(1) For the purpose of maintaining the bag number in the document to be registered, a minimum price determination committee consisting of the following chairmen and members will be formed in each port office area:-
(a) Chief District Officer – Chairman (b) Chairman of the District Development Committee or a member of the District Development Committee appointed by him - Member
(c) Head, Surveyors Office – Member
(d) The head of the office in the district where there is an internal revenue office and the head of the fund and accounting control office in the district where there is no such office - member
(e) ……………
(f)……………
(s)…………………. Representative of the local commercial bank designated by Nepal Rastra Bank - Representative of the Chamber of Commerce and Industry in the Member District - Chief Member, Port Office - Member-Secretary
(2) In the meeting of the committee according to sub-rule (1), experts of related subjects can be invited as per the need.
(3) The committee as per sub-rule (1) shall determine the minimum price of the land within the middle of each year.
(4) The committee as per sub-rule (1) may determine the minimum value of the land based on the following for the purpose of maintaining the bag number in the document to be registered:-
(a) the type of road or road connected with the land, if not connected and if not connected,
(b) Condition of land purpose,
(c) physical location of the land,
(d) Purchase and sale price of the same area where the business was conducted in the current financial year (5) If the committee under sub-rule (1) determines the minimum price of any land, if the price is lower than the current financial year, the reason for that should be submitted to the Government of Nepal for approval.