chhatramani/nepal_legal_acts_corpus_english huggingface dataset:
Securities Act, 2007

43. Trading Only in Recognized Securities: (1) A securities market shall only provide market management for securities that have been recognized for trading by listing or by making similar other arrangements as specified in its bye-laws, for securities issued by organized institutions.

(2) The work and activities relating to the purchase, sale, or exchange of securities not listed on a securities market shall be as prescribed. 44. Managerial Responsibility of the Securities Market: The board of directors of a securities market shall be responsible for the management of securities transactions conducted by that securities market. 45. Functions, Duties, and Powers of the Securities Market: The functions, duties, and powers of the securities market shall be as follows:-
 (a) to conduct or cause to be conducted securities transactions occurring through it in a transparent, clean, and regular manner,
 (b) to conduct or cause to be conducted operations, keeping in mind the interest of the general public investors,
 (c) to cause its members to fully comply with this Act and the rules and regulations made under this Act, and to monitor and supervise matters in this regard,
 (d) to provide adequate and convenient trading premises for securities transactions,
 (e) to provide employees capable of conducting transactions,
 (f) to arrange sufficient facilities and proper methods for contingency and security arrangements,
 (g) to make regulations, with the approval of the Board, for listing or causing listing and

५८. धितोपत्र व्यवसाय गर्ने अनुमतिपत्र दिने: (१) दफा ५७ बमोजिम निवेदन प्राप्त भएमा बोर्डले आवश्यक जाँचबुझ गरी देहायका आधारमा निवेदकलाई तोकिए बमोजिको ढाँचामा धितोपत्र व्यवसाय गर्ने अनुमतिपत्र दिन सक्नेछ:-

(क) उपदफा (२) मा उल्लिखित अवस्थाहरुको आधारमा निवेदकले यो ऐन वा यस ऐन अन्तर्गत बनेको नियम तथा विनियमका अधीनमा रह
Securities Act, 2007

ी धितोपत्र व्यवसाय गर्न सक्छ भन्ने लागेमा,

(ख) धितोपत्र व्यवसाय गर्न नियुक्त गरेको प्रतिनिधिले प्राप्त गरेको तालिम र शैक्षिक योग्यता । (२) धितोपत्र व्यवसाय गर्ने अनुमतिपत्रको लागि निवेदन दिने कम्पनी वा संस्थामा कार्यरत कार्यकारी प्रमुख, सञ्चालक, सम्बन्धित अधिकृतहरू तथा प्रतिनिधिको सम्बन्धमा देहायका कुराहरूलाई समेत हेरिनेछः–

(क) आर्थिक हैसियत,

(ख) शैक्षिक योग्यता, तालिम र सम्बन्धित काममा अनुभव,

(ग) धितोपत्र व्यवसाय गर्न चाहिने अनुभव,

(घ) सामाजिक हैसियत तथा चरित्र । (३) यस दफामा माथि जुनसुकै कुरा लेखिएको भए तापनि धितोपत्र दलाली तथा लगानी परामर्श सेवा बाहेक अन्य धितोपत्र व्यवसाय गर्ने अनुमतिपत्र पब्लिक लिमिटेड कम्पनी वा प्रचलित कानून बमोजिम स्थापना भएको संगठित संस्थालाई मात्र दिइनेछ । (४) यस ऐनमा अन्यत्र जुनसुकै कुरा लेखिएको भए तापनि बोर्डले पूँजी बजार तथा लगानीकर्ताको हितलाई ध्यानमा राखी कुनै धितोपत्र व्यवसायीलाई धितोपत्र व्यवसायको किसिममध्ये कुनै धितोपत्र व्यवसाय गर्न नपाउने गरी अनुमतिपत्र प्रदान गर्न सक्नेछ । ५९. बोर्डले शर्तहरू तोक्न सक्ने: (१) बोर्डले धितोपत्र व्यवसाय गर्ने अनुमतिपत्र प्रदान गर्दा पूँजी बजारको अवस्था, धितोपत्र व्यवसायको स्वस्थ सञ्चालन तथा लगानीकर्ताहरूको हितको संरक्षणलाई ध्यानमा राखी आवश्यक शर्तहरू तोक्न सक्नेछ । (२) बोर्डले उपदफा (१) बमोजिम तोकिदिएका शर्तहर ूको पालना गर्ने कर्तव्य धितोपत्र व्यवसाय गर्न अनुमतिपत्र प्राप्त गरेका कम्पनी वा संस्थाको हुनेछ । (३) उपदफा (१) बमोजिम तोकिएको शर्तमा बोर्डले आवश्यकता अनुसार पूँजी बजारको अवस्था, धितोपत्र व्यवसायको स्वस्थ सञ्चालन तथा लगानीकर्ताहरूको हितलाई ध्यानमा राखी थपघट तथा हेरफेर गर्न सक्नेछ । ६०. धितोपत्र व्यवसाय गर्न अनुमतिपत्र दिन इन्कार गर्न सक्ने: बोर्डले देहायका अवस्थामा कुनै कम्पनी वा संस्थालाई धितोपत्र व्यवसाय गर्न अनुमतिपत्र दिन इन्कार गर्न सक्नेछः–

(क) साहुको ऋण तिर्न नसकी दामासाहीमा परेको प्रमाणित भएमा,

(ख) त्यस्तो अनुमतिपत्रको लागि दिइने निवेदन साथ यो ऐन वा यस ऐन अन्तर्गत बनेको नियम बमोजिम संलग्न गर्नु पर्ने कागजात तथा विवरण वा बोर्डले तोकिदिएको अन्य कुनै कुरा संलग्न नगरेमा,

(ग) दफा ५८ को उपदफा (२) मा उल्लिखित कुराहरूलाई हेर्दा धितोपत्र व्यवसाय गर्ने अनुमतिपत्र दिन उपयुक्त हुने नदेखिएमा । ६१. धितोपत्र व्यवसाय गर्ने अनुमतिपत्रको अवधि र नवीकरण: (१) यस ऐन बमोजिम धितोपत्र व्यवसाय गर्न धितोपत्र व्यवसायीलाई दिइएको अनुमतिपत्र जुन आर्थिक वर्षमा जारी गरिएको हो सोही आर्थिक वर्षको अन्त्यसम्म मात्र कायम रहनेछ । (२) धितोपत्र व्यवसायीले प्रत्येक आर्थिक वर्ष समाप्त भएको तीन महिनाभित्र तोकिए बमोजिमको वार्षिक शुल्क बोर्डलाई बुझाई त्यस्तो अनुमतिपत्र नवीकरण गर्नुपर्नेछ । (३) उपदफा (२) बमोजिमको म्य
Securities Act, 2007

ादभित्र वार्षिक शुल्क बुझाई नवीकरण गर्न नसकेमा सो म्याद समाप्त भएको तीन महिनासम्म वार्षिक शुल्कको पच्चीस प्रतिशत जरिवाना तिरी त्यस्तो अनुमतिपत्र नवीकरण गराउन सकिनेछ । (४) उपदफा (३) बमोजिमको म्यादभित्र पनि त्यस्तो अनुमतिपत्र नवीकरण नगराउने धितोपत्र व्यवसायीको अनुमतिपत्र बोर्डले खारेज गरी सोको सूचना सर्वसाधारणको जानकारीका लागि प्रकाशन गर्नुपर्नेछ । ६२. सहायक कम्पनी मार्फत धितोपत्र व्यवसाय गर्न तोक्न सक्ने: यस ऐनमा अन्यत्र जुनसुकै कुरा लेखिएको भए तापनि बोर्डको सिफारिसमा नेपाल सरकारले नेपाल राजपत्रमा सूचना प्रकाशन गरी प्रचलित कानून बमोजिम स्थापना भएका बैंक वा वित्तीय संस्थाले आफ्नो सहायक कम्पनी मार्फतमात्र धितोपत्र व्यवसाय गर्न पाउने गरी तोकिदिन सक्नेछ । तर त्यस्तो सहायक कम्पनीले धितोपत्र व्यवसाय बाहेक अरु काम गर्न सक्ने छैन । ६३. धितोपत्र व्यवसायको किसिम: (१) यस ऐनको प्रयोजनको लागि धितोपत्र व्यवसायलाई देहाय बमोजिमको किसिममा विभाजन गरिनेछः–

(क) धितोपत्र दलाली,

(ख) धितोपत्र व्यापार,

(ग) निष्काशन तथा बिक्री प्रबन्ध,

(घ) लगानी व्यवस्थापन,

(ङ) लगानी परामर्श सेवा,

(च) सामूहिक लगानी कोष व्यवस्थापन,

(छ) धितोपत्र दर्ता वा धितोपत्रको केन्द्रीय निक्षेप सेवा वा डिपोजिटरी (कस्टोडियल) सेवा,

(ज) धितोपत्र कारोबारको हिसाब राफसाफ गर्ने सम्बन्धी सेवा,

(झ) बजार निर्माता,

(ञ) यस ऐन बमोजिम बोर्डल े धितोपत्र व्यवसाय भनी तोकिदिएको अन्य कार्य । (२) उपदफा (१) मा उल्लिखित धितोपत्र व्यवसायको कार्यक्षेत्र तथा अन्य व्यवस्था तोकिए बमोजिम हुनेछ । ६४. प्रतिनिधि नतोकी धितोपत्र व्यवसाय गर्ने अनुमति नदिइने: (१) धितोपत्र दलालको प्रतिनिधिको रुपमा काम गर्ने कम्तीमा एकजना व्यक्ति नतोकी कसैलाई पनि धितोपत्र दलालको रुपमा धितोपत्र व्यवसाय गर्न अनुमतिपत्र दिइने छैन । (२) धितोपत्र व्यापारीको प्रतिनिधिको रुपमा काम गर्ने कम्तीमा एकजना व्यक्ति नतोकी कसैलाई पनि धितोपत्र व्यापारीको रुपमा धितोपत्र व्यवसाय गर्न अनुमतिपत्र दिइने छैन । (३) योजना व्यवस्थापकको प्रतिनिधिको रुपमा काम गर्ने कम्तीमा एकजना व्यक्ति नतोकी कसैलाई पनि सामूहिक लगानी योजना तथा लगानी कोष व्यवस्थापन सम्बन्धी धितोपत्र व्यवसाय गर्न अनुमतिपत्र दिइने छैन । (४) धितोपत्र व्यवसायीले प्रतिनिधि तोक्दा पूरा गर्नुपर्ने कार्यविधि, योग्यता तथा व्यवस्थाहरू तोकिए बमोजिम हुनेछ । ६५. आधिकारिक प्रतिनिधि: (१) कुनै पनि व्यक्ति धितोपत्र व्यवसायीको प्रतिनिधि नियुक्त भएको कुरा उपदफा (३) बमोजिम बोर्डमा दर्ता भएपछि मात्र त्यस्तो व्यक्ति सो धितोपत्र व्यवसायीको लागि आधिकारिक प्रतिनिधि मानिनेछ । (२) उपदफा (१) बमोजिम प्रतिनिधि नियुक्त भएको कुरा बोर्डमा दर्ता गर्दा धितोपत्र व्यवसायीले प्रतिनिधि नियुक्त गरेको कुरा र प्रतिनिधि नियुक्त हुने व्यक्तिले पनि आफू सो धितोपत्र
Securities Act, 2007

व्यवसायीको प्रतिनिधि हुन मञ्जुर गरेको कुरा बोर्डलाई सूचना गर्नुपर्नेछ । (३) उपदफा (२) बमोजिम सूचना प्राप्त भएको पन्ध्र दिनभित्र बोर्डले प्रतिनिधिको नाम, ठेगाना तथा अन्य आवश्यक विवरण खुलाई तोकिए बमोजिम दर्ता किताबमा दर्ता गरी त्यस्तो प्रतिनिधिलाई प्रतिनिधि दर्ताको प्रमाणपत्र दिनुपर्नेछ । (४) कुनै कारणले प्रतिनिधि र प्रतिनिधि नियुक्त गर्ने धितोपत्र व्यवसायी बीच प्रतिनिधि राख्ने सम्बन्धमा भएको सम्झौता रद्द भएमा सोको सूचना तुरुन्त बोर्डलाई दिनुपर्नेछ र प्रतिनिधिले पनि आफूले प्राप्त गरेको प्रमाणपत्र सात दिनभित्र बोर्डमा फिर्ता बुझाउनुपर्नेछ । (५) आधिकारिक प्रतिनिधिले गरेको सम्पूर्ण कामको जिम्मेवारी त्यसरी आधिकारिक प्रतिनिधि नियुक्त गर्ने धितोपत्र व्यवसायीको हुनेछ । ६६. धितोपत्र व्यवसायीको अधिकार: (१) धितोपत्र व्यवसायीलाई सुनुवाइको उचित मौका नदिई निजले प्राप्त गरेको धितोपत्र व्यवसाय गर्ने अनुमतिपत्र निलम्बन वा खारेज गरिने छैन । (२) धितोपत्र व्यवसाय गर्ने अनुमतिपत्र निलम्बन वा खारेज गर्दा त्यसको लिखित सूचना सम्बन्धित धितोपत्र व्यवसायीलाई दिनुपर्नेछ र त्यस्तो सूचनामा त्यसरी निलम्बन वा खारेज गर्नुपर्ने कारण, निलम्बन वा खारेजी लागू हुने मिति र निलम्बन भएकोमा निलम्बनको अवधि उल्लेख गर्नुपर्नेछ । (३) धितोपत्र व्यवसायीको धितोपत्र व्यवसाय गर्ने अनुमतिपत्र निलम्बन वा खारेज गर्ने गरी गरेको निर्णयम ा चित्त नबुझ्ने धितोपत्र व्यवसायीले त्यस्तो निर्णय भएको मितिले पैंतीस दिनभित्र सम्बन्धित उच्च अदालतमा पुनरावेदन गर्न सक्नेछ । ६७. धितोपत्र व्यवसायीको न्यूनतम पूँजी र आर्थिक स्रोत: (१) धितोपत्र व्यवसायीले धितोपत्र व्यवसाय गर्दा तोकिए बमोजिम न्यूनतम पूँजी र आर्थिक स्रोत राख्नुपर्नेछ । (२) उपदफा (१) बमोजिम धितोपत्र व्यवसायीले राख्नुपर्ने न्यूनतम पूँजी र आर्थिक स्रोत राख्न नसकेमा सो कुराको जानकारी बोर्डलाई तुरुन्त दिनुपर्नेछ । (३) उपदफा (२) बमोजिमको जानकारी बोर्डले प्राप्त गरेमा त्यस्तो धितोपत्र व्यवसायीलाई तोकिए बमोजिमको न्यूनतम पूँजी र आर्थिक स्रोत राख्न तुरुन्त आदेश दिन वा तत्सम्बन्धमा आवश्यक अन्य निर्देशन दिन सक्नेछ । ६८. धितोपत्र व्यवसायीको अभिलेख राख्नुपर्ने: (१) बोर्डले अनुमतिपत्र प्राप्त सबै धितोपत्र व्यवसायीको एउटा दर्ता किताब खडा गरी अद्यावधिक अभिलेख राख्नुपर्नेछ । (२) उपदफा (१) बमोजिम खडा गरिने दर्ता किताबमा देहायका कुराहरू समेत खुलाई धितोपत्र व्यवसायीको अद्यावधिक अभिलेख राख्नुपर्नेछः–

(क) धितोपत्र व्यवसायीको नाम र ठेगाना,

(ख) धितोपत्र व्यवसायीलाई अनुमतिपत्र दिएको मिति,

(ग) धितोपत्र व्यवसायको किसिम,

(घ) अनुमतिपत्रमा उल्लिखित शर्तहरू,

(ङ) आधिकारिक प्रतिनिधिको नाम र ठेगाना,

(च) प्रबन्धक तथा अधिकृतहरूको नाम र ठेगाना,

(छ) धितोपत्र व्यवसाय सम्बन्धी कागज तथा अभिलेख रहने ठाउ
Securities Act, 2007

ँ,

(ज) कम्पनी वा संस्थाको सञ्चालकको नाम, कम्पनी सचिवको नाम, प्रत्येक शेयरवालाको नाम र लिएको शेयर संख्या,

(झ) बोर्डले आवश्यक र उचित देखेका अन्य विवरणहरू । ६९. आधिकारिक प्रतिनिधिको अभिलेख: (१) बोर्डले सबै आधिकारिक प्रतिनिधिको एउटा दर्ता किताब खडा गरी अद्यावधिक अभिलेख राख्नु पर्नेछ । (२) उपदफा (१) बमोजिम खडा गरिने दर्ता किताबमा देहायका कुराहरू समेत खुलाई आधिकारिक प्रतिनिधिको अद्यावधिक अभिलेख राखिनेछः-

(क) आधिकारिक प्रतिनिधिको नाम र ठेगाना,

(ख) आधिकारिक प्रतिनिधिको रूपमा दर्ता भएको मिति,

(ग) प्रतिनिधि नियुक्त गर्ने धितोपत्र व्यवसायीको नाम र ठेगाना,

(घ) बोर्डले उचित र आवश्यक देखेका अन्य आवश्यक विवरणहरू । ७०. जानकारी दिनुपर्ने: धितोपत्र व्यवसायीले देहायका कुनै अवस्थामा सो भएको मितिले सात दिनभित्र बोर्डलाई सोको लिखित सूचना दिनु पर्नेछः-

(क) अनुमतिपत्रमा उल्लेख भए बमोजिमको धितोपत्र व्यवसाय गर्न छोडेमा,

(ख) कुनै आधिकारिक प्रतिनिधिले प्रतिनिधिको रूपमा कार्य गर्न छोडेमा,

(ग) दफा ६८ बमोजिम खडा गरिएको दर्ता किताबमा उल्लिखित कुनै विवरणहरूमा हेरफेर भएमा । परिच्छेद-६

सामूहिक लगानी योजना

७१. स्वीकृति नलिई सामूहिक लगानी योजनाको सञ्चालन गर्न नहुने: (१) कसैले पनि यस ऐन बमोजिम बोर्डबाट स्वीकृति नलिई सामूहिक लगानी योजना सञ्चालन गर्न वा देहाय बमोजिमको कुनै काम गर्न गराउन हुँदैनः-

(क) सामूहिक लगानी योजनामा सहभागी हुन आमन्त्रित गरी कुनै विज्ञापन गर्न वा प्रत्यक्ष वा अप्रत्यक्ष रूपले त्यस्तो योजनामा सहभागी हुनका लागि कुनै पनि किसिमको जानकारी समावेश गरी प्रस्ताव राख्न,

(ख) सामूहिक लगानी योजनामा सहभागी हुन कसैलाई राय, सल्लाह वा परामर्श दिन । (२) उपदफा (१) को उल्लंघन गर्नेले यस ऐन बमोजिमको कसूर गरेको मानिनेछ । ७२. बोर्डले सामूहिक लगानी योजना सञ्चालन गर्न स्वीकृति दिने: (१) योजना व्यवस्थापकले आफूले व्यवस्थापन र सञ्चालन गर्ने सामूहिक लगानी योजना सञ्चालन गर्नु अघि त्यस्तो योजना बोर्डमा दर्ता गराई सञ्चालन गर्ने स्वीकृति लिन तोकिए बमोजिमको ढाँचामा तोकिएको विवरण र दस्तुर संलग्न राखी बोर्ड समक्ष निवेदन दिनु पर्नेछ । (२) उपदफा (१) बमोजिम निवेदन प्राप्त भएपछि बोर्डले आवश्यक जाँचबुझ गरी उपयुक्त देखिएमा निवेदन प्राप्त गरेको मितिले नब्बे दिनभित्र सामूहिक लगानी योजना दर्ता गरी सञ्चालन गर्ने स्वीकृति प्रदान गर्नेछ । (३) उपदफा (२) बमोजिम सामूहिक लगानी योजना दर्ता गरी सञ्चालन गर्ने स्वीकृति प्रदान गर्ने सम्बन्धमा जाँचबुझ गर्दा कुनै सूचना, विवरण, जानकारी वा कागजात आवश्यक देखिएमा बोर्डले सम्बन्धित योजना व्यवस्थापकसँग त्यस्तो सूचना, विवरण, जानकारी वा कागजात माग गर्न सक्नेछ । यसरी मागिएको सूचना, विवरण, जानकारी वा कागजात प्राप्त नगरेसम्म बोर्डले सामूहिक लगानी योजना सञ्चालन गर्ने स्वीकृति प्रदान
Securities Act, 2007

गर्ने छैन । (४) उपदफा (२) बमोजिम सामूहिक लगानी योजना दर्ता गरी सञ्चालन गर्ने स्वीकृति प्रदान गर्दा बोर्डले सहभागीहरूलाई सहभागिता सम्बन्धी प्रमाणपत्र वा सोको निस्सा दिने गरी स्वीकृति प्रदान गर्नेछ । (५) बोर्डले योजना व्यवस्थापकलाई सामूहिक लगानी योजना सञ्चालन गर्न यस दफा बमोजिम स्वीकृति प्रदान गर्दा सामूहिक लगानी योजनाको सञ्चालन र सहभागी प्रमाणपत्र जारी गर्ने सम्बन्धमा आवश्यक शर्तहरू समेत तोकिदिन सक्नेछ । यसरी तोकिएका शर्तहरूमा बोर्डले आवश्यकता अनुसार थपघट वा हेरफेर गर्न सक्नेछ । ७३. सामूहिक लगानी योजनाको सञ्चालन: (१) योजना व्यवस्थापकले सामूहिक लगानी योजना सञ्चालन गर्ने उद्देश्यले सहभागीहरूको आवश्यकता र हितलाई ध्यानमा राखी तोकिए बमोजिम एउटै वा छुट्टाछुट्टै किसिम र नामबाट सामूहिक लगानी योजना सञ्चालन गर्न सक्नेछ । (२) उपदफा (१) बमोजिम योजना व्यवस्थापकले कुनै योजना सञ्चालन गर्नु अघि डिपोजिटरीसँग तोकिए बमोजिम सम्झौता गर्नु पर्नेछ । ७४. बोर्डले स्वीकृति रद्द गर्न सक्ने: (१) बोर्डले देहायको अवस्थामा सामूहिक लगानी योजना सञ्चालन गर्न दफा ७२ बमोजिम दिएको स्वीकृति रद्द गर्न सक्नेछः-

(क) सञ्चालनका आवश्यक शर्तहरू सन्तोषजनक ढङ्गबाट पूरा गर्न नसकेमा,

(ख) सहभागीहरूका हितलाई ध्यानमा राख्दा त्यस्तो योजनालाई निरन्तरता दिन उपयुक्त हुने नदेखिएमा,

(ग) योजना व्यवस्थापक र डिपोजिटरीले यो ऐन वा यस ऐन अन् तर्गत बनेको नियम वा विनियमको उल्लंघन गरेमा वा योजनाका सम्बन्धमा बोर्डलाई कुनै झुट्टा विवरण उपलब्ध गराएमा । (२) उपदफा (१) को खण्ड (ख) बमोजिम स्वीकृति रद्द गर्दा बोर्डले त्यस्तो योजनासँग सम्बन्धित व्यवस्थापक, डिपोजिटरी, सञ्चालक वा सम्बन्धित कर्मचारीसँग आवश्यक सोधपुछ गर्न सक्नेछ । (३) उपदफा (१) बमोजिम योजना सञ्चालन गर्न दिइएको स्वीकृति रद्द गर्दा बोर्डले लगानीकर्ताहरूको लगानी तथा प्रतिफललाई ध्यानमा राखी अन्य कुनै योजना व्यवस्थापकद्वारा सो योजना सञ्चालन गर्न वा त्यस्तो योजनाको लगानीकर्ताहरूको लगानी तथा प्रतिफल समेत फिर्ता गरी हिसाब राफसाफ गर्न लगाउन सक्नेछ । (४) बोर्डको आदेश बमोजिम योजना सञ्चालन बन्द गर्दा तथा हिसाब राफसाफ गर्दा अवलम्बन गर्नुपर्ने कार्यविधि तोकिए बमोजिम हुनेछ । ७५. सामूहिक लगानी योजना सञ्चालन सम्बन्धी अन्य व्यवस्था: (१) योजना व्यवस्थापकले सञ्चालन गर्ने सामूहिक लगानी योजनालाई सहभागीहरूको हित अनुकूल सञ्चालन गराउनका लागि गर्नुपर्ने अन्य व्यवस्था र सञ्चालन सम्बन्धी कार्यविधि तोकिए बमोजिम हुनेछ । (२) सामूहिक लगानी योजनाको सञ्चालन सम्बन्धमा नियमावलीमा देहायका व्यवस्थाहरू गरिनेछः-

(क) सामूहिक लगानी योजनाको दर्ता तथा स्वीकृति सम्बन्धी प्रक्रिया तथा शर्तहरू सम्बन्धमा,

(ख) सामूहिक लगानी योजनाको विधान, योजना व्यवस्थापक तथा डिपोजिटरीको काम, कर्तव्य र सहभागीहरूको अधिकार तथा दायित ्व सम्बन्धमा,

(ग) इकाईको प्रवद्र्धन, बजार व्यवस्थापन तथा वितरण सम्बन्धमा,

(घ) इकाईको निष्काशन तथा छूट सम्बन्धमा,

(ङ) डिपोजिटरी सेवा तथा य

111. Transfer of Securities: Notwithstanding anything contained in the prevailing law relating to companies, provisions relating to the ownership and transfer of listed securities shall be as prescribed. 112. Contact with the Government of Nepal: The Board shall contact the Government of Nepal through the Ministry of Finance. 113.
Securities Act, 2007

Transfer of Securities: Notwithstanding anything contained in the prevailing law relating to companies, provisions relating to the ownership and transfer of listed securities shall be as prescribed. 112. Contact with the Government of Nepal: The Board shall contact the Government of Nepal through the Ministry of Finance. 113. Government of Nepal may issue directives: The Government of Nepal may, from time to time, issue necessary directives to the Board on policy matters such as the development of the capital market and the protection of the interests of investors, and it shall be the duty of the Board to comply with such directives. 114. Duty to provide assistance: Having regard to the development of the capital market and the interests of investors, it shall be the duty of all concerned to provide assistance requested by the Board to regulate and systematize securities transactions. 115. Protection for acts done in good faith: Neither the Board nor any employee of the Board shall be held personally or collectively liable in respect of any act or action done in good faith under this Act or the rules made under this Act. 116. Power to make rules: (1) The Board may, with the approval of the Government of Nepal, make necessary rules for carrying out the objectives of this Act.

(2) Without prejudice to the generality of the power conferred by sub-section (1), such rules may, in particular, make provision for the following matters:-
(a) The registration and issuance permission of securities,
(b) The licensing of securities markets,
(c) The licensing of securities dealers,
(d) The operation of collective investment schemes,
(e) The terms of service of employees of the Board,
(f) The financial operation and accounting of the Board,
(g) The operation of the compensation fund,
(h) The financial resources required to be maintained by securities dealers for operating the securities business,
(i) The accounting and records of amounts deposited by clients for the purchase of securities,
(j) The suspension, delisting, or transfer of securities listing,
(k) Other provisions necessary to systematize the issuance, purchase, sale, and exchange of securities for the development of the capital market, to regulate and systematize the work and actions of the securities market and persons involved in the securities business, and to protect the rights and interests of investors,
(l) The acquisition of ownership through the purchase of shares, whether in bulk or in installments, with the objective of controlling the management of a company. 117.
Securities Act, 2007

117. Power to make regulations: Subject to this Act and the rules made under this Act, the securities market may, with the approval of the Board, make necessary regulations in respect of the following matters:-
(a) The listing of securities and the trading of listed securities,
(b) Membership, membership fees, and professional conduct of members,
(c) Provisions regarding the service and conduct of employees and market inspection and monitoring for the operation of the securities market in a fair and transparent manner. 118. Power to make and implement directives: (1) Subject to this Act and the rules made under this Act, the Board may make and implement directives in respect of the following matters for the purpose of systematizing securities transactions:-
(a) The registration and issuance permission of securities,
(b) The arrangements for the issuance and sale of securities,
(c) The allotment of securities,
(d) Professional conduct,
(e) Other matters relating to the regulation of securities transactions.

(2) It shall be the duty of all concerned to comply with the directives made by the Board pursuant to sub-section (1). 119. Effect of the lapse of Securities Ordinance, 2005: After the lapse of the Securities Ordinance, 2005, unless a contrary intention appears, such lapse shall not,-
(a) revive anything not in force or existing at the time of the lapse of that Ordinance,
(b) affect anything done or suffered under that Ordinance, or any matter already in progress under that Ordinance,
(c) affect any right, privilege, obligation, or liability acquired, accrued, or incurred under that Ordinance,
(d) affect any penalty, punishment, or forfeiture incurred under that Ordinance,
(e) affect any investigation, legal proceeding, or remedy in respect of any such right, privilege, obligation, liability, penalty, punishment, or forfeiture as aforesaid, and any such legal proceeding or remedy may be instituted, continued, or enforced as if that Ordinance had not lapsed.
Agriculture and Forestry University Act, 2010

Agriculture and Forestry University Act, 2067 (2010)

Certification and Publication Date
2067.3.3

Amending Acts

1. Some Nepal Acts Amendment Act, 2072 (2015) 2072.11.13
2. Act Made to Amend Some Nepal Acts Relating to Education, 2077 (2020) 2077.03.11
3. Some Nepal Acts Amendment Act, 2082 (2025) 2082.04.14

Act Number 3 of the Year 2067 (2010)

An Act Made to Make Provisions relating to Agriculture and Forestry University

Preamble: Whereas, it is desirable to make necessary provisions for the establishment and operation of Agriculture and Forestry University with the investment of the Government of Nepal, for the integrated study, teaching and research of subjects related to fields such as agriculture, forestry, animal science, in order to comprehensively develop the agricultural sector, which is the backbone of the country, and to modernize agriculture while raising the social and economic level of the rural community, thereby producing highly skilled and competent human resources within the country,

Now, therefore, the Constituent Assembly has enacted this Act pursuant to Sub-section (1) of Section 83 of the Interim Constitution of Nepal, 2063 (2007). Chapter-1
Preliminary

1. Short Title and Commencement: (1) This Act may be called the "Agriculture and Forestry University Act, 2067 (2010)".

(2) This Act shall come into force immediately. 2.
Agriculture and Forestry University Act, 2010

Chapter-1
Preliminary

1. Short Title and Commencement: (1) This Act may be called the "Agriculture and Forestry University Act, 2067 (2010)".

(2) This Act shall come into force immediately. 2. Definitions: Unless the subject or context otherwise requires, in this Act,-

(a) "University" means the Agriculture and Forestry University established pursuant to Section 3.

(b) "Assembly" means the University Assembly pursuant to Section 7.

(c) "Academic Council" means the Academic Council pursuant to Section 10.

(d) "Executive Council" means the Executive Council pursuant to Section 12.

(e) "Service Commission" means the Service Commission pursuant to Section 21.

(f) "Faculty" means the Faculty pursuant to Section 14.

(g) "Research Center" means the Research Center pursuant to Section 15.

(h) "Faculty Board" means the Faculty Board pursuant to Section 16.

(i) "Campus" means a constituent campus of the University and said word also denotes a campus affiliated with the University.

(j) "Curriculum Development Center" means the Curriculum Development Center pursuant to Section 18.

(k) "Chancellor" means the Chancellor pursuant to Section 22.

(l) "Pro-Chancellor" means the Pro-Chancellor pursuant to Section 23.

(m) "Vice-Chancellor" means the Vice-Chancellor pursuant to Section 24.

(n) "Registrar" means the Registrar pursuant to Section 25.

(o) "Dean" means the head of a Faculty.

(p) "Director" means the Director pursuant to Section 27.

(q) "Teacher" means Professor, Associate Professor, Assistant Professor and Lecturer who impart education or conduct or cause to conduct research in the University, and said word also denotes instructors at various levels of the University and persons designated as teachers in the rules made under this Act.

(r) "Employee" means a person, other than a teacher, who performs or causes to perform managerial and supportive functions in relation to the operation of the University.

(s) "Student" means a female or male student who is enrolled in a Campus for study or research.

(t) "Prescribed" or "as prescribed" means prescribed or as prescribed in the rules made under this Act. Chapter-2
Establishment of the University

3. Establishment and Operation of the University: (1) An Agriculture and Forestry University is hereby established for the integrated study, teaching and research of subjects relating to agriculture and forestry science.

(2) At the time of commencement of this Act, this University shall be established by jointly incorporating the Institute of Agriculture and Animal Science, Rampur Agriculture Campus located in Chitwan District, and the Hetauda Forestry Campus operated in Makwanpur District, which were constituent campuses of Tribhuvan University receiving grants from the Government of Nepal, within the premises of the Institute of Agriculture and Animal Science and Rampur Agriculture Campus.

(3) The central office of the University shall be located in Chitwan District. 4.
Agriculture and Forestry University Act, 2010

4. University to be an Autonomous and Corporate Body: (1) The University shall be an autonomous and corporate body with perpetual succession.

(2) The University shall have a separate seal for all its acts and proceedings.

(3) The University may, like a natural person, acquire, use, sell or otherwise dispose of movable and immovable property.

(4) The University may, like a natural person, sue and be sued in the same name.

(5) The University may, like a natural person, enter into contracts, exercise rights under contracts and discharge obligations. Chapter-3
Organization and Office Bearers of the University

5. Organization of the University: The organization of the University shall be as follows, and the collective form thereof shall constitute the University:-

(a) Assembly
(b) Academic Council
(c) Executive Council
(d) Service Commission
(e) Faculties
(f) Research Center
(g) Faculty Board
(h) Campuses
(i) Curriculum Development Center
(j) Other prescribed bodies. 6. Office Bearers of the University: The following shall be the office bearers of the University:-

(a) Chancellor
(b) Pro-Chancellor
(c) Vice-Chancellor
(d) Chairperson of the Service Commission
(e) Registrar
(f) Dean
(g) Director
(h) Other prescribed office bearers. Chapter-4
Formation, Functions, Duties and Powers of the Assembly

7. Formation of the Assembly: (1) There shall be an Assembly as the supreme body of the University.

(2) The Assembly shall be constituted as follows:-

 S.N. Designation Position

 (a) Chancellor Chairperson
 (b) Pro-Chancellor Vice-Chairperson
 (c) Vice-Chancellor Member
 (d) Member, National Planning Commission (looking after Education, Agriculture and Forestry) Member
 (e) Chairperson, University Grants Commission Member
 (f) Vice-Chancellor, Nepal Academy of Science and Technology Member
 (g) One from among the Vice-Chancellors of other universities Member
 (h) Secretary, Ministry of Education, Science and Technology Member
 (i) Secretary, Ministry of Agriculture and Livestock Development Member
 (j) Secretary, Ministry of Forests and Environment Member
 (k) Secretary, Ministry of Finance Member
 (l) Deleted by the Act Made to Amend Some Nepal Acts Relating to Education, 2077 (2020).
 (m) Dean Member
 (n) Director Member
 (o) Executive Director, Nepal Agricultural Research Council Member
 (p) Central Chairperson, Nepal Professor Association Member
 (q) Deleted by the Some Nepal Acts Amendment Act, 2072 (2015).
 (r) Amended by the Act Made to Amend Some Nepal Acts Relating to Education, 2077 (2020).
Agriculture and Forestry University Act, 2010

Chief and Deputy Chief of the Municipal Executive where the central office of the University is located Member
 (s) Director, Curriculum Development Center Member
 (t) Three persons, including at least one woman, from among persons who have made outstanding contributions in the field of agriculture, forestry and animal science Member
 (u) Teacher representatives, one each from each Faculty Member
 (v) Chairperson, University Free Students' Union Member
 (w) Three persons from among education enthusiasts, industrialists and donors Member
 (x) One from among employee representatives Member
 (y) Registrar Member-Secretary

(3) The nomination of members other than ex-officio members under Sub-section (2) shall be made by the Chancellor on the recommendation of the Executive Council.

(4) The term of office of nominated members under Sub-section (2) shall be three years.

(5) If the office of any nominated member falls vacant for any reason, another person shall be nominated for the remainder of the term following the procedure under Sub-section (3). 8. Meeting of the Assembly: (1) The meeting of the Assembly shall be held at least twice a year compulsorily.

(2) The meeting of the Assembly shall be held at the date, time and place specified by the Chairperson of the Assembly.

(3) The Member-Secretary of the Assembly shall give notice to all members of the Assembly, along with the agenda for discussion, at least fifteen days before the meeting of the Assembly.

(4) If more than fifty percent of the total number of members currently holding office are present in the Assembly, the meeting shall be deemed to have attained a quorum.

(5) The meeting of the Assembly shall be chaired by the Chairperson of the Assembly, in the absence of the Chairperson by the Vice-Chairperson of the Assembly, and in the absence of both the Chairperson and the Vice-Chairperson by the Vice-Chancellor.

(6) The opinion of the majority shall prevail in the meeting of the Assembly, and in the case of a tie, the person chairing the meeting shall have a casting vote. Amended by the Act Made to Amend Some Nepal Acts Relating to Education, 2077 (2020).(7) The person chairing the meeting of the Assembly shall certify the decision of the meeting. Added by the Act Made to Amend Some Nepal Acts Relating to Education, 2077 (2020).(7a) The Registrar shall maintain records of decisions or orders of the Assembly. A copy of such decision or order shall be submitted to the Chancellor.

(8) Other procedures relating to the meeting of the Assembly shall be as determined by the Assembly itself. 9.
Agriculture and Forestry University Act, 2010

A copy of such decision or order shall be submitted to the Chancellor.

(8) Other procedures relating to the meeting of the Assembly shall be as determined by the Assembly itself. 9. Functions, Duties and Powers of the Assembly: The functions, duties and powers of the Assembly shall be as follows:-

(a) To formulate policies of the University,
(b) To provide guidance to the University and its subordinate bodies,
(c) To determine degrees to be conferred by the University and to confer such degrees,
(d) To approve long-term plans, annual budget and programs of the University,
(e) To pass rules relating to the University,
(f) To discuss annual reports of bodies under the University and evaluate their programs,
(g) To discuss and approve audit reports of the University,
(h) To form various committees, sub-committees or task forces as required,
(i) To perform other functions as prescribed. Chapter-5
Formation, Functions, Duties and Powers of the Academic Council

10. Formation of the Academic Council: (1) There shall be an Academic Council to act as the body to organize the educational and academic functions of the University.

(2) The Academic Council shall be constituted as follows:-

 S.N. Designation Position

 (a) Vice-Chancellor Chairperson
 (b) Registrar Member
 (c) Dean Member
 (d) Three from among departmental heads of various Faculties Member
 (e) Two persons, including at least one woman, from among persons who have made outstanding contributions in the field of agriculture and forestry science Member
 (f) Controller of Examinations Member
 (g) Director Member
 (h) Dean designated by the Vice-Chancellor from among the Deans Member-Secretary

(3) The nomination of members other than ex-officio members under Sub-section (2) shall be made by the Vice-Chancellor.

(4) The term of office of nominated members under Sub-section (2) shall be three years.

(5) If the office of any nominated member of the Academic Council falls vacant for any reason, another person shall be nominated for the remainder of the term following the procedure under Sub-section (3).

(6) The procedure relating to the meetings of the Academic Council shall be as prescribed, and until so prescribed, the Academic Council may itself determine the procedure relating to its meetings. 11.
Agriculture and Forestry University Act, 2010

11. Functions, Duties and Powers of the Academic Council: The functions, duties and powers of the Academic Council shall be as follows:-

(a) To determine and approve the curriculum of the University,
(b) To specify the types of examinations to be conducted under the University,
(c) To determine and maintain the academic quality of the University,
(d) To formulate policies relating to research and approve research programs,
(e) To specify the qualifications required for admission to subjects studied and taught in the University, the number of student admissions and the basis for admission,
(f) To advise the Executive Council on academic matters,
(g) To recommend to the Assembly for honorary degrees to be conferred by the University,
(h) To perform other functions as prescribed. Chapter-6
Formation, Functions, Duties and Powers of the Executive Council

12. Formation of the Executive Council: (1) There shall be an Executive Council to act as the executive body of the University.

(2) The Executive Council shall be constituted as follows:-

 S.N. Designation Position

 (a) Vice-Chancellor Chairperson
 (b) Three from among the Deans Member
 (c) Two from among teachers Member
 (d) Registrar Member-Secretary

(3) The nomination of members other than ex-officio members under Sub-section (2) shall be made by the Assembly on the recommendation of the Vice-Chancellor.

(4) The term of office of nominated members under Sub-section (2) shall be three years.

(5) If the office of any nominated member falls vacant for any reason, another person shall be nominated for the remainder of the term following the procedure under Sub-section (3).

(6) The procedure relating to the meetings of the Executive Council shall be as prescribed, and until so prescribed, the Executive Council may itself determine the procedure relating to its meetings. 13.
Agriculture and Forestry University Act, 2010

13. Functions, Duties and Powers of the Executive Council: The functions, duties and powers of the Executive Council shall be as follows:-

(a) To implement and cause to implement the decisions and directives of the Assembly,
(b) To prepare the annual program, budget, progress report, audit report and other proposals of the University and submit them to the Assembly for approval,
(c) To operate, look after and preserve the fund and movable and immovable property of the University,
(d) Subject to the policies and directives of the Assembly, to sell, lease or take on lease movable and immovable property of the University,
(e) To coordinate, look after and inspect programs operated by the University and submit reports thereof to the Assembly,
(f) To prepare drafts of rules relating to the University and submit them to the Assembly for approval,
(g) To appoint and promote teachers and employees required for the University on the recommendation of the Service Commission,
(h) To determine student fees,
(i) To accept financial and other assistance provided for the University,
(j) To perform other functions as prescribed. Chapter-7
Faculties, Research Centers and Other Bodies

14. Faculties: (1) For higher education to be conducted by the University, there shall be Faculties as prescribed in subjects relating to agriculture and forestry science.

(2) The functions, duties and powers of a Faculty shall be as prescribed. 15. Research Center: (1) The University may establish Research Centers as required for conducting research on subjects relating to agriculture and forestry science.

(2) Provisions relating to the establishment, functions, duties and powers, and operation of a Research Center shall be as prescribed. 16. Faculty Board: (1) There shall be a Faculty Board as prescribed in each Faculty for conducting educational and academic programs.

(2) There shall be subject committees as prescribed under the Faculty Board.

(3) The functions, duties and powers of the Faculty Board and committees thereunder, and procedures relating to their meetings shall be as prescribed. 17. Campus: (1) The University may establish and operate Campuses as required for providing higher education in various subjects.

(2) Provisions relating to the establishment and operation of a Campus shall be as prescribed. 18. Curriculum Development Center: (1) There shall be a Curriculum Development Center for the determination and development of curricula of various subjects studied and taught in the University.

(2) The establishment, functions, duties and powers of the Curriculum Development Center shall be as prescribed. 19.
Agriculture and Forestry University Act, 2010

18. Curriculum Development Center: (1) There shall be a Curriculum Development Center for the determination and development of curricula of various subjects studied and taught in the University.

(2) The establishment, functions, duties and powers of the Curriculum Development Center shall be as prescribed. 19. Power to Affiliate: (1) If any campus of the private sector wishes to operate by obtaining affiliation with the University, the University may grant affiliation to such campus as prescribed.

(2) A campus obtaining affiliation under Sub-section (1) shall comply with the conditions specified by the University. 20. Special Provision relating to Operation of Campuses of Other Universities: (1) If any constituent or affiliated campus of another university submits an application with the recommendation of its management committee to be associated with the University and to remain as a constituent or affiliated campus, proceedings shall be initiated to recognize such campus as a constituent or affiliated campus of the University.

(2) The procedure under Sub-section (1) shall be as prescribed by the University.

(3) After any campus is operated as a constituent campus of the University under Sub-section (1), the property in the name of such campus shall also transfer to the constituent campus of the University.

(4) After any campus is operated as a constituent campus of the University under Sub-section (1), the teachers and employees working in such campus shall remain as teachers and employees of the constituent campus of the University.

(5) If any teacher or employee does not wish to remain as a teacher or employee of the constituent campus of the University under Sub-section (4), he/she shall notify the concerned university within one year of the date determined by the Assembly or with the approval of the concerned university, and in such case, the University, in consultation with the concerned university, may deploy such teacher or employee as a teacher or employee of the University.

(6) The permanent service rendered by a teacher or employee in the concerned campus who remains as a teacher or employee of the constituent campus of the University under Sub-section (4) shall be deemed to have been rendered in a constituent campus under the University, and the service period of such persons shall be counted accordingly.

(7) If any teacher or employee continues to serve in a constituent campus of the University under Sub-section (4) or (5), there shall be no change in their previous remuneration, facilities and service conditions to their detriment. Chapter-8
Service Commission

21. Service Commission: (1) There shall be a Service Commission to make recommendations for the appointment and promotion of teachers and employees of the University.

(2) The Service Commission shall be constituted as follows:-

 S.N.
Agriculture and Forestry University Act, 2010

Chapter-8
Service Commission

21. Service Commission: (1) There shall be a Service Commission to make recommendations for the appointment and promotion of teachers and employees of the University.

(2) The Service Commission shall be constituted as follows:-

 S.N. Designation Position

 (a) Person appointed by the Chancellor Chairperson
 (b) Member of the Public Service Commission Member
 (c) One from among teachers Member

(3) For the purpose of recommending the appointment of the Chairperson and member under Clauses (a) and (c) of Sub-section (1), a committee consisting of two members of the Assembly under the chairpersonship of the Pro-Chancellor shall be formed by the Chancellor, and the Chairperson and member shall be appointed by the Chancellor on the recommendation of such committee.

(4) The term of office of the Chairperson and member appointed under Sub-section (3) shall be four years.

(5) Other functions, duties and powers of the Service Commission shall be as prescribed.

(6) The remuneration, facilities and other terms of service of the Chairperson and members of the Service Commission shall be as prescribed.

(7) The procedure relating to meetings of the Service Commission shall be as prescribed, and until so prescribed, the Service Commission itself shall determine the procedure relating to its meetings. Chapter-9
Office Bearers, Teachers and Employees of the University

22. Chancellor: (1) The Prime Minister shall be the Chancellor of the University.

(2) The Chancellor shall be the head of the University. In the presence of the Chancellor, he/she shall preside over the convocation ceremony of the University.

(3) The Chancellor may inspect and give directives to the University as required. 23. Pro-Chancellor: (1) Minister or Minister of State for Education, Science and Technology shall be the Pro-Chancellor of the University.

(2) In the absence of the Chancellor, the Pro-Chancellor shall preside over the convocation ceremony of the University.

(3) The Pro-Chancellor may inspect the University and give directives to the University as required. 24.
Agriculture and Forestry University Act, 2010

24. Vice-Chancellor: (1) The Vice-Chancellor shall be the chief office bearer working full-time in the University.

(2) For the purpose of recommending the appointment to the post of Vice-Chancellor, the Chancellor shall form a three-member committee including the Secretary of the Ministry of Education, Science and Technology from among the members of the Assembly.

(3) The committee under Sub-section (2) shall recommend the names of three persons, one from each field, from among persons having special experience in the field of agriculture and forestry science, and the Chancellor shall appoint the Vice-Chancellor from among the persons so recommended.

(4) The Vice-Chancellor shall have general control over all acts and proceedings of the University, and he/she may give directives and supervise the acts and proceedings of the University.

(5) The term of office of the Vice-Chancellor shall be four years.

(6) In the absence of the Chancellor and Pro-Chancellor, the Vice-Chancellor shall preside over the convocation ceremony of the University.

(7) The Vice-Chancellor shall implement and cause to implement the decisions and directives of the Assembly.

(8) The Vice-Chancellor shall perform the functions which are not mentioned in this Act or the rules made under this Act as functions to be performed by any other body or authority. The Vice-Chancellor shall immediately inform the Chancellor about such functions and shall cause them to be ratified in the next meeting of the Assembly.

(9) In the absence of the Vice-Chancellor, his/her work shall be as arranged by the Chancellor.

(10) Other functions, duties and powers, and remuneration, facilities and other terms of service of the Vice-Chancellor shall be as prescribed. 25. Registrar: The Registrar shall be appointed by the Chancellor on the recommendation of the Vice-Chancellor. 26. Dean: The Dean shall be appointed by the Executive Council. 27. Director: (1) There shall be separate Directors to act as the heads of the Research Center and the Curriculum Development Center.

(2) The Director shall be appointed by the Executive Council. 28. Service, Terms, Functions, Duties and Powers, and Remuneration, Facilities and Terms of Service of Registrar, Dean and Director: (1) The Registrar, Dean and Director shall be office bearers working full-time in the University.

(2) The term of office of the Registrar, Dean and Director shall be four years.

(3) The functions, duties, powers, and remuneration, facilities and other terms of service of the Registrar, Dean and Director shall be as prescribed. 29. Other Office Bearers: (1) There shall be other office bearers in the University as prescribed.

(2) The appointment, functions, duties and powers, remuneration, facilities and other terms of service of office bearers under Sub-section (1) shall be as prescribed. 30.
Agriculture and Forestry University Act, 2010

29. Other Office Bearers: (1) There shall be other office bearers in the University as prescribed.

(2) The appointment, functions, duties and powers, remuneration, facilities and other terms of service of office bearers under Sub-section (1) shall be as prescribed. 30. Power to Remove from Office: (1) If one-fourth of the members currently serving in the Assembly submit a written application to the Chancellor for removing the Vice-Chancellor, Chairperson of the Service Commission or Registrar from office on the ground that he/she has not fulfilled the responsibilities corresponding to his/her office, has not worked honestly, or has not behaved in a manner befitting the office, the Chancellor shall form a three-member inquiry committee consisting of a member of the University Grants Commission and the Secretary of the Ministry of Education, Science and Technology under the chairpersonship of any member of the Assembly.

(2) The inquiry committee formed under Sub-section (1) shall conduct necessary inquiry in relation thereto and submit its report to the Chancellor within thirty days.

(3) After receiving the report under Sub-section (2), the Chancellor shall submit such report to the Assembly.

(4) Upon discussion on the report submitted under Sub-section (2), if more than fifty percent of members currently serving in the Assembly who are present at the meeting decide to remove the Vice-Chancellor, Chairperson of the Service Commission or Registrar from office, the Chancellor shall remove the Vice-Chancellor, Chairperson of the Service Commission or Registrar from office. Provided that, before removing him/her from office, he/she shall not be deprived of an opportunity to submit a defense.

(5) The procedure to be adopted while inquiring into allegations under Sub-section (1) or removing from office other office bearers of the University excluding the Vice-Chancellor, Chairperson of the Service Commission or Registrar shall be as prescribed.

(6) If an inquiry is initiated against any office bearer under this Section, he/she shall not be entitled to perform the functions of the office he/she holds until final decision is made. Added by the Act Made to Amend Some Nepal Acts Relating to Education, 2077 (2020).(7) For the purpose of performing the daily functions to be performed by an office bearer under Sub-section (6), the Chancellor may assign responsibility to the senior-most office bearer of the University. 31. Provisions relating to Teachers and Employees: (1) There shall be teachers and employees in the University as prescribed.

(2) The appointment, functions, duties and powers, remuneration, facilities and terms of service of employees under Sub-section (1) shall be as prescribed. Chapter-10
Fund, Accounts and Audit of the University

32.