You are viewing the translated version of फरफारख सम्बन्धी कार्यको सूचना र दर्ता.
Section 88E
Notice and Registration of Deeds relating to Farfarakh
(1) The special administration group shall give to each office of the concerned commercial bank or financial institution the following details within two days after the initiation of the work:- (a) The date and time of taking control of the concerned commercial bank or financial institution and starting the work, (b) The concerned commercial bank or financial institution. The authority and responsibility of the person having the previous authority to conduct financial transactions of the bank or financial institution or to manage the same or to give instructions regarding the same has been revoked. The manner, time and place of getting back their deposits which are insured and secured, (e) The manner, time and place of presentation of claims to be received by the secured creditor from the commercial bank or financial institution. (2) Information related to sub-section (1) with details of BMOZIM shall be publicly published so that interested parties of commercial banks or financial institutions can get the information. Such information shall be published every week in the national daily newspaper for four weeks. (3) Information regarding the situation in which the relevant commercial bank or financial institution is being reformed by the special administration group and the changes in the authorized officer of the commercial bank or financial institution and the change in his authority. It should also be sent to the company registrar's office, the relevant securities exchange market and the institution established to protect deposits under prevailing laws and other related bodies for records.