2. Definitions

In these Regulations, unless the context or the context otherwise requires–
(a) "Sender" means the person who sends the amount by cheque.
(b) "Payee" shall mean the person mentioned in the check as the recipient of the check.
(c) "Director General" shall mean the Director General of the Department of Postal Services (d) "Fund" shall mean the Check Operating Fund.

2A. Check Operation Fund:

(1) Check Operation Fund has been established for the purpose of payment of cheques.
(2) The Fund shall consist of the following sums:
(a) Amount received from Government of Nepal.
(B) Amount received from domestic and foreign check transactions.

2b. Operation of the fund:

(1) The amount of the fund will be used for paying checks.
(2) The funds remaining in the fund shall be deposited in a central account opened in Nepal Rastra Bank.
(3) The operation of the central account of the fund as per sub-rule (2) shall be done by the joint signature of the head of the central check office and the senior officer of the same office.
(4) After opening the central account as per sub-rule (2), a separate account will be opened in the name of the fund in the local branch of Nepal Rastra Bank or any other bank in the respective district for the post office paying the cheque.
(5) The account according to sub-rule (4) shall be operated by the joint signature of the head of the respective post office and the senior staff working in the account.
(6) The balance remaining at the end of the previous financial year will be transferred to the fund at the beginning of the current financial year.

2c. The amount of the fund should not be spent on other activities: No one shall be allowed to use any amount of the fund for any activity other than the activity of paying cheques. 2d. Inspection: The Department of Postal Services will arrange for the inspection related to the expenditure of funds.