(1) Any bank or financial institution that wants to undergo voluntary liquidation shall submit an application to the Rashtra Bank along with an action plan for voluntary liquidation. If the National Bank is confident that the branch or office in Nepal is capable of paying its debts and obligations in full, the National Bank may give principled approval for voluntary cancellation with conditions. (3) According to sub-section (2), the bank or financial institution that receives the in-principle consent from the National Bank shall do the following:- (a) Register the information in the office of the Registrar of Companies within seven days from the date of receipt of the in-principle consent, (b) From the date of receipt of the in-principle consent Within thirty days, to send notices thereof to all depositors, creditors or related persons through fast, easy and reliable means, (c) To publish notices thereof in a national level daily newspaper within thirty days from the date of obtaining the theoretical consent, (d) To perform other actions prescribed by the National Bank.