You are viewing the translated version of जगेडा कोष.
Section 40
Reserve Fund
The fund shall establish a reserve fund by allocating at least twenty percent of its capital and net profit earned from services every year.
Citizen Investment Trust Act, 2047 (1991)
Preamble - 0
Chapter - 2
Section 3: Establishment of the fundSection 4: Fund capital and share allocationSection 5: TheSection 6: TheSection 7: Application for sharesSection 8: Share certificateSection 9: Debenture IssuanceSection 10: Cancellation of transfer and filing of sharesSection 11: Shareholder's Register BookSection 12: The right to take loans and grantsSection 13: Amount paid for sharesSection 14: Entitled to Shares and Debentures
Chapter - 3
Section 15: Operation of Investor Account Scheme TheSection 16: Operation of Citizen Unit SchemesSection 17: Exclusive rights of the Government of NepalSection 18: Arrangement for depositing funds in Investor Account Scheme or Civil Unit SchemeSection 18A: A self-employed person can deposit:Section 18A: A self-employed person can deposit:Section 19: to be distributedSection 20: Unit certificate
Chapter - 4
Section 21: General AssemblySection 22: Right to vote upon appointment of directorsSection 23: Matters to be presented and discussed at the General MeetingSection 24: Special General MeetingSection 25: Formation of Board of DirectorsSection 26: Disqualification to be appointed or to hold office as DirectorSection 27: Directors' remuneration and allowancesSection 28: Authority of Board of DirectorsSection 29: Committee meetingSection 30: Accountability of DirectorsSection 31: Acknowledgment of Actions Done
Chapter - 5
Section 32: FUNCTIONS, DUTIES AND RIGHTS OF THE FUND:Section 32A: which the Fund may act as Debenture TrusteeSection 32B: that the fund may act as a custodianSection 33: Right to set conditionsSection 34: Special discountSection 34A: The right of the fund will remain:Section 35: Fund's Right to Breach of ContractSection 36: The right to demand repayment of loaned amount before the expiry of the agreement
Chapter - 7
Section 42: Staff arrangementSection 43: Technical SubcommitteeSection 43A: the Trustee may be appointed by the FundSection 44: Every director, executive director, advisor, technical sub-committee members and officers and employees of theSection 45: Power of the Government of Nepal to adjourn the CommitteeSection 46: Contact with the Government of Nepal TheSection 47: Annual ReportSection 48: The Government of Nepal may issue orders or instructionsSection 49: Nepal Rastra Bank may issue orders or instructionsSection 50: Monitoring and InspectionSection 51: XXXXXXSection 52: Special rights of the fundSection 52A: Special provisions regarding investment in fixed depositsSection 53: Security of Fund's Loan InvestmentSection 53A: BlacklistingSection 54: to maintain confidentialitySection 55: The fund may be dissolvedSection 56: Appointment of liquidatorSection 57: Order of priority for payment of liabilitiesSection 58: Penalty PunishmentSection 59: Power to make regulations TheSection 60: Can make procedures: