Section 5
Acts Not To Be Done By International Financial Entities
5. Acts not to be done by International Financial Entities:
International financial entities shall not be allowed to do the following acts:
(a) To purchase any kind of immovable property within the Nepal or to keep in their name otherwise,
(b) To carry out any type of international financial transaction with any person resident of Nepal,
(c) To purchase shares or debentures of any company incorporated in the Nepal under the existing laws,
(d) To open an account in any commercial bank of Nepal:
Provided that an account may be opened in any commercial bank with the permission of the Accreditation Committee for the purpose of
running the day-to-day administrative business of the office up to such amount as may be fixed by the Accreditation Committee.
International financial entities shall not be allowed to do the following acts:
(a) To purchase any kind of immovable property within the Nepal or to keep in their name otherwise,
(b) To carry out any type of international financial transaction with any person resident of Nepal,
(c) To purchase shares or debentures of any company incorporated in the Nepal under the existing laws,
(d) To open an account in any commercial bank of Nepal:
Provided that an account may be opened in any commercial bank with the permission of the Accreditation Committee for the purpose of
running the day-to-day administrative business of the office up to such amount as may be fixed by the Accreditation Committee.