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Section 59
Officials will be prosecuted
If the official assigned responsibility under this Act or the rules made under this Act does not complete the work assigned to him within the prescribed time, or if he acts dishonestly, he will be punished according to the prevailing law.
Commodity Interchange Market Act, 2074
Preamble - 0
Chapter - 2
Section 3: Business shall not be carried on without obtaining a licenseSection 4: To apply for a permitSection 5: Section 6: Permission to be refusedSection 7: Can set conditionsSection 8: Provisions regarding duration and renewal of licenseSection 9: Provisions relating to infrastructureSection 10: Must have maintained minimum paid-up capital and financial resources
Chapter - 3
Section 11: Prior approval of the Board is requiredSection 12: Management RegulationsSection 13: Provisions relating to shares of the commodity exchange marketSection 14: Inability to take shares of the barter marketSection 15: Functions, Duties and Rights of Commodity Exchange MarketSection 16: which may determine the limits of goods or transactionsSection 17: Investor Protection Fund should be arrangedSection 18: Provisions regarding Chief Executive Officer of Commodity Exchange Market
Chapter - 10
Section 41: Funding ArrangementsSection 42: Auditor appointmentSection 43: Provisions relating to service charges or regulatory chargesSection 44: to establish an electronic transaction systemSection 45: Special provisions relating to contract of goodsSection 46: Commodities as specified in the foreign exchange market to manage the risks to be carried by transactions in the foreign exchange marketSection 47: Approval to be obtained for transactions in foreign currencySection 48: Information and details to be givenSection 49: Report required to be submittedSection 50: Details to be made publicSection 51: Obeying orders or instructionsSection 52: Penalty to be leviedSection 53: AppealableSection 54: Government of Nepal to be PlaintiffSection 55: Government of Nepal may give instructionsSection 56: To assist the boardSection 57: Delegation of PowersSection 58: Contact with the Government of NepalSection 59: Officials will be prosecutedSection 60: A code of conduct can be created and enforcedSection 61: Power to make rulesSection 62: Can make regulationsSection 63: Able to create and implement guidelinesSection 64: According to this Act