You are viewing the translated version of खारेजी र बचाउ.
Section 48
Repeal and Rescue
(1) The Insurance Act, 2025 has been repealed. (2) Actions taken before this Act came into force shall be deemed to have been carried out in accordance with this Act.
Vima Act, 2049
Preamble - 0
Chapter - 4
Section 10: Registration of InsurersSection 11: Renewal of Insurer's RegistrationSection 12: Cannot be registeredSection 12A: Suspension of insurance businessSection 13: Registration of insurer can be canceledSection 14: No loan, surety or security to the directorSection 15: Notification to be givenSection 16: Payment of insurance claim after cancellation of insurerSection 17: Liability of insurerSection 18: Appointment of liquidatorSection 19: Insurer's bookkeeping and accountingSection 20: Separate account should be keptSection 21: Insurance FundSection 22: Compulsory reserve fundSection 23: Balance sheet to be submittedSection 24: Income statement to be submittedSection 25: AuditingSection 26: Appraisal by the insurerSection 27: Insurance fee must be paid before assuming the riskSection 28: Reinsurance to be providedSection 29: Requirement to retain a legal representative
Chapter - 7
Section 36: Punishment PunishmentSection 37: AppealSection 38: Beneficiary will receiveSection 39: Interrogatories and InterrogatoriesSection 39A: Special provisions relating to audit of insurersSection 40: Insurance Service ChargeSection 41: Insurance Rate Advisory CommitteeSection 41A: Insurance business related transactions should not be done with anyone other than insurersSection 41B: Priority order of liability paymentSection 42: Annual ReportSection 43: Delegation of authoritySection 44: Government of Nepal can give instructionsSection 45: Contact with the Government of NepalSection 46: To be in accordance with the prevailing lawSection 47: Power to make rules and regulationsSection 48: Repeal and Rescue