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Section 16
Fund Of The Corporation
16. Fund of the Corporation :
(1) The Corporation shall have a separate fund of its own. All incomes of the Corporation shall be deposited in this fund and all
expenditures shall be made from the same fund.
(2) The Corporation shall deposit its fund with the Nepal Rastra Bank and where a branch of the Nepal Rastra Bank is not established, with a Bank as prescribed by the Board. For the purpose of its business, if the Corporation has to maintain funds in foreign countries as well, it shall deposit its fund with a Bank recommended by the Nepal Rastra Bank after obtaining the approval of Government of Nepal. Explanation: The term Bank also denotes the branch or sub-branch thereof.
(1) The Corporation shall have a separate fund of its own. All incomes of the Corporation shall be deposited in this fund and all
expenditures shall be made from the same fund.
(2) The Corporation shall deposit its fund with the Nepal Rastra Bank and where a branch of the Nepal Rastra Bank is not established, with a Bank as prescribed by the Board. For the purpose of its business, if the Corporation has to maintain funds in foreign countries as well, it shall deposit its fund with a Bank recommended by the Nepal Rastra Bank after obtaining the approval of Government of Nepal. Explanation: The term Bank also denotes the branch or sub-branch thereof.