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Section 10
Application before the Board
(1) Any person who wants to invest in a project under Section 9 shall submit an application to the Board along with the project investment proposal in the prescribed format along with the prescribed fee.
(2) ) Upon receipt of the application according to sub-section (1), the executive head shall conduct an initial assessment and, if the proposed investment project is deemed suitable, within seven days, the process of initial examination and evaluation of the financial, environmental, technical, and social aspects of the project investment will be initiated.
(3) If the application is received in accordance with sub-section (1), the office will make a necessary assessment within thirty days of receipt and recommend to the board whether to approve the project investment or not. (4) Before making a recommendation in accordance with sub-section (3), if it is found necessary to study, analyze or examine any technical aspect of the proposed project investment, the office may do so through an expert committee or working group in accordance with section 8.< /div>
(5) Within seven days of receiving the recommendation to invest in accordance with sub-section (3), the board shall decide whether to approve the project investment with or without conditions and give the information to the applicant.
(6) ) According to sub-section (5), if it is necessary to negotiate with the concerned applicant before informing the applicant, the board may negotiate with the concerned applicant through the office. The office will set the place and time of the negotiation and invite the concerned applicant for the negotiation.
(8) If the negotiation is held according to sub-section (6), based on the recommendation of the office along with the results thereof, the board shall decide whether or not to approve the project investment with or without conditions. The applicant should be informed of the same.
(9) As per sub-section (5) and (8), the board shall notify the applicant of the project investment.In order to implement the project according to the law, the permit will be issued in the prescribed format after obtaining the prescribed fee.
(10) According to this section, the applicant must fulfill the necessary conditions and obtain the permit within fifteen days after receiving the information that the project investment has been approved. Within fifteen days, the investor must complete the project registration and company registration according to the prevailing law.
(11) If there is any reasonable reason for not being able to obtain or register the permit according to sub-section (9) or (10), the applicant shall disclose the reason through the office. The person who can obtain the license or can request to extend the period of registration and if there is a request to extend the period, the board can extend the period appropriately.
(12) If any project granted a permit under sub-section (9) requires an environmental impact study or evaluation, regardless of what is written in the prevailing law for that purpose, the board will give three months time after considering the nature of the project and within that period, the investor shall complete the study within the specified period. "The report shall be submitted to the designated body.
(13) If the investor makes a written request to extend the deadline due to the fact that the study has not been completed within the period according to sub-section (12), the board may extend the deadline for a maximum of three more months.
(14) The relevant body shall make a decision on the environmental impact assessment study report received from the investor within twenty-one days after completing its study.
(15) The law shall prohibit the officer from making such a decision for any reason other than circumstances beyond his control. The Board may recommend the Government of Nepal to take action accordingly.
(16) Regardless of what is written elsewhere in this Act, if an investment permit has been obtained in accordance with sub-section (9) of the project that requires an environmental impact study in accordance with the prevailing law or sub-section (10) ) project construction work cannot be started only because it has been registered.
(17) If an investor starts construction of a project without completing the process as per this section, the Board may take any or all of the following actions –
(a) stop the construction,
(b) canceling the permit,
(c) taking control of the project and confiscating the property