(1) The Government of Nepal shall establish an Industrial and Investment Promotion Fund for the promotion and protection of industrial investment in the country.
(2) The fund under sub-section (1) shall have the following amount:-
(a) Amounts received from Government of Nepal,
(b) Funds received from indigenous associations, organizations or individuals,
(c) Micro, domestic and small higher development fund, micro, domestic and small industry credit disbursement fund, technology development fund, women's entrepreneurship development fund, risk capital which existed at the time of commencement of this Act. (Venture Capital) Fund, Sick Industry Revival, Reconstruction and Management Fund and Industrial Investment Protection and Promotion Fund received for return of investment or amount held in such fund,
(d) Bilateral or multilateral grants or assistance received from foreign governments, international organizations, but before receiving grants or assistance from foreign governments, international organizations, the approval of the Government of Nepal, the Ministry of Finance must be obtained.
(3) The amount of the fund under sub-section (1) shall be spent on the following activities: 0
(a) Khaghu Ucham, Development of Household and Small Industries,
(b) Technology Development,
(c) Industrial Promotion,
(d) Revival, reconstruction and management of sick industries,
(e) Women's empowerment development.
(4) When spending the amount of the fund in the activities according to sub-section (3), the investment and expenditure shall be subject to the approved annual program of the fund.
(5) Other arrangements related to the operation and management of the fund shall be as prescribed.