Vima Act, 2049

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Section 18
Appointment of liquidator
If an insurer is dissolved due to cancellation of registration in accordance with section 13, the Government of Nepal may appoint a liquidator. The work, duties and rights of the liquidator so appointed will be the same as the government liquidator under the Companies Act, 2063.
Vima Act, 2049
Chapter - 4
Section 10: Registration of InsurersSection 11: Renewal of Insurer's RegistrationSection 12: Cannot be registeredSection 12A: Suspension of insurance businessSection 13: Registration of insurer can be canceledSection 14: No loan, surety or security to the directorSection 15: Notification to be givenSection 16: Payment of insurance claim after cancellation of insurerSection 17: Liability of insurerSection 18: Appointment of liquidatorSection 19: Insurer's bookkeeping and accountingSection 20: Separate account should be keptSection 21: Insurance FundSection 22: Compulsory reserve fundSection 23: Balance sheet to be submittedSection 24: Income statement to be submittedSection 25: AuditingSection 26: Appraisal by the insurerSection 27: Insurance fee must be paid before assuming the riskSection 28: Reinsurance to be providedSection 29: Requirement to retain a legal representative