(1) If the National Bank approves any internationally rated foreign bank to conduct banking and financial transactions through a branch in Nepal, the branch registered in accordance with the prevailing company law in Nepal shall be deemed to be the same as a bank or financial institution established in accordance with this Act and this Act or any entity established under this Act. All other provisions shall be equally applicable to such branches, except as provided otherwise by the rules, regulations, orders or directives. The National Bank may issue necessary instructions regarding the responsibilities of the officials and employees who carry out the work. (3) The Nepalese branch of a foreign bank shall give priority to Nepal's obligations while using its assets in the course of fulfilling its obligations, so as not to adversely affect any other legal system. 4) Regardless of what is written elsewhere in this Act, a branch of a foreign bank may carry out wholesale banking transactions.