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Section 2
Definition
Unless the subject or context requires otherwise, in this Act -
(a) "International financial transaction" means any financial transaction conducted by a licensed institution in accordance with this Act.
(b) "International financial institution" means the financial institution as per Section 4.
(c) "Promotion Committee" means the International Financial Transactions Promotion Committee constituted as per Section 9.
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(d) “Permit” means the permit granted in accordance with section 14 for carrying out international financial transactions in accordance with this Act. (c) "Executive Committee" shall mean the International Financial Transaction Implementation Committee established in accordance with Section 11. (g) "Residence in Nepal" "Person doing" shall mean any of the following persons: (1) Nepal for a period exceeding the prescribed period through employment, trade or any other business or any other work. Nepali citizens other than Nepali citizens residing abroad,
(2) Non-Nepali citizens residing in Nepal for a period longer than specified by doing business or any other business,
(3) According to prevailing laws Any organization registered in Nepal.
(h) “Prescribed” or “as prescribed” means prescribed or prescribed in the rules made under this Act.