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Section 103
Stabilization Fund
: (1) To protect against possible risks in the operation of savings and loan institutions, such institutions can establish a stabilization fund.
(2) Cooperative organizations interested in the fund under subsection (1), cooperative organizations that are members of the Central Cooperative Association for Savings and Loans, National Cooperative Federation, National Cooperative Bank, National Cooperative Development Board, Nepal Rastra Bank, Ministries, other agencies of the Government of Nepal and international The contribution of cooperative associations may remain.
(3) The Stabilization Fund shall be in the Central Association of Savings and Loans (4) For the operation of the Stabilization Fund, there will be an operating committee as specified including representatives of Central Savings and Loan Association, National Cooperative Bank, National Cooperative Federation, National Cooperative Development Ward, Nepal Rastra Bank, Ministries, Ministry of Finance, and Departments.
(5) Organizations participating in the Stabilization Fund may collect the amount as specified by allocating to the reserve fund according to section 68 from the annual savings.
(6) The amount of Stabilization Fund should be kept in the designated bank account.
(7) The Stabilization Fund may be utilized for the following purposes:-
(a) To maintain the liquidity of participating institutions and to provide for the rescue of distressed cooperatives,
(b) To meet the expenses of the management committee formed in accordance with section 105 in case the participating organization is in trouble,
(c) If the participating organization is in trouble and according to Clause (d) of Section 114, the Federation takes responsibility for the operation of such organization, to use it for re-operation including payment of the liability of such organization,
(d) To meet the expenses of the Stabilization Fund Board of Directors and to use them for other activities as prescribed,
(8) Other arrangements related to the operation of the Stabilization Fund shall be as prescribed.
(2) Cooperative organizations interested in the fund under subsection (1), cooperative organizations that are members of the Central Cooperative Association for Savings and Loans, National Cooperative Federation, National Cooperative Bank, National Cooperative Development Board, Nepal Rastra Bank, Ministries, other agencies of the Government of Nepal and international The contribution of cooperative associations may remain.
(3) The Stabilization Fund shall be in the Central Association of Savings and Loans (4) For the operation of the Stabilization Fund, there will be an operating committee as specified including representatives of Central Savings and Loan Association, National Cooperative Bank, National Cooperative Federation, National Cooperative Development Ward, Nepal Rastra Bank, Ministries, Ministry of Finance, and Departments.
(5) Organizations participating in the Stabilization Fund may collect the amount as specified by allocating to the reserve fund according to section 68 from the annual savings.
(6) The amount of Stabilization Fund should be kept in the designated bank account.
(7) The Stabilization Fund may be utilized for the following purposes:-
(a) To maintain the liquidity of participating institutions and to provide for the rescue of distressed cooperatives,
(b) To meet the expenses of the management committee formed in accordance with section 105 in case the participating organization is in trouble,
(c) If the participating organization is in trouble and according to Clause (d) of Section 114, the Federation takes responsibility for the operation of such organization, to use it for re-operation including payment of the liability of such organization,
(d) To meet the expenses of the Stabilization Fund Board of Directors and to use them for other activities as prescribed,
(8) Other arrangements related to the operation of the Stabilization Fund shall be as prescribed.