संक्षिप्त नाम र प्रारम्भ | Section 1 | Banks and Financial Institutions Loan Realized Acts, 2058

Banks and Financial Institutions Loan Realized Acts, 2058

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Section 1

Abbreviations and initials

(1) The name of this Act is "Debt Recovery Act of Banks and Financial Institutions, 2058". (2) This Act shall commence from the date specified by the Government of Nepal by publishing a notice in the Nepal Gazette.

Banks and Financial Institutions Loan Realized Acts, 2058

Preamble - 0

Preamble 0: Preamble

Chapter - 1

Section 1: Abbreviations and initials Section 2: Definitions Section 3: Banks and financial institutions to which the provisions of the Act are applicable

Chapter - 2

Section 4: Establishment and Formation of Tribunals Section 5: Appointment of members Section 6: Eligibility of a member Section 7: Term of office of a member Section 8: Establishment of Appellate Tribunal Section 9: Appointment of Appeal Hearing Officer Section 10: Term of Office of the Appeal Hearing Officer Section 11: Remuneration and facilities Section 12: State of not holding office Section 13: Filling of Vacancies

Chapter - 3

Section 14: Functions, Duties and Jurisdictions Section 15: Application to Tribunal Section 16: Can issue interim orders Section 17: Time period for action and disposal of the case Section 18: Judgment pronouncement Section 19: Appealable Section 20: Can be reconciled Section 21: Enforcement of judgment Section 22: Bond must be deposited for appeal Section 23: Period for Disposing of Appeals Section 24: Powers and Procedure of Tribunals and Appellate Tribunals

Chapter - 4

Section 25: Debt Recovery Method Section 26: Obligations of sureties Section 27: Order of Debt Recovery Officer to be equivalent to order of Tribunal

Chapter - 5

Section 28: Designation of Debt Recovery Officer Section 29: Arrangements related to other staff Section 30: Actionable for Contempt Section 31: Banks and financial institutions must pay the amount Section 32: Transfer of cases Section 33: Power to make rules

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