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Section 12
Tasks, Duties and Powers of the Executive Committee
In addition to the tasks, duties and powers written elsewhere in this Act, other tasks, duties and powers of the Implementation Committee shall be as follows:-
To monitor and supervise international financial transactions in accordance with the rules made under this Act or other applicable laws related to international financial transactions,
(b) Regarding the facilities to be given to international financial institutions to establish Nepal as an attractive international financial transaction center. To make suggestions to the Promotion Committee, (c) To make suggestions to the Promotion Committee regarding the reforms that should be made in the prevailing laws related to international financial transactions in order to conduct international financial transactions effectively and systematically, (d) Investigate whether or not the licensee has fulfilled the conditions to be followed in accordance with this Act and, if it is found not to have done so, (e) give necessary instructions to the licensee in relation to international financial transactions,
(f) Obtaining the services of domestic or foreign experts and specialized bodies for the promotion and development of international financial transactions, (g) Complying with the instructions given by the Promotion Committee from time to time, If a licensed organization violates this Act or the rules made under this Act or other prevailing laws related to international financial transactions, the license obtained by such organization shall be suspended or revoked according to the circumstances, but before such revocation, such organization shall be given an opportunity to submit an explanation.