Banks And Financial Institutions Act, 2063 (2006
Section 60
Appointment Of Auditor
(1) The general meeting of a bank or financial institution shall appoint an auditor.
(2) The general meeting shall appoint an auditor pursuant to Sub-section (1) from amongst the auditors included in the list of auditors approved by the Rastra Bank. Provided that the general meeting shall not appoint the same auditor for more than three consecutive times.
(3) While appointing an auditor from amongst the auditors included in the list of auditors approved by the Rastra Bank, the general meeting shall appoint a chartered accountant in the case of a licensed institution of Class “A” or “B” or “C”, and a chartered accountant or a registered auditor in the case of a licensed institution= of Class “D”.
(4) The Rastra Bank may, at any time, remove any auditor who fails to fulfill his or her duty from the list of auditors entitled to audit the accounts of licensed institutions.
Banks And Financial Institutions Act, 2063 (2006
Chapter - 4
Section 28: Prohibition On Carrying On Financial Transactions By Any One Other Than Bank Or Financial InstitutionSection 29: Application To Be Made For License To Carry On Financial TransactionsSection 30: License To Be Issued To Carry On Financial TransactionsSection 31: Classification Of Licensed InstitutionsSection 32: Power To Refuse To Issue License To Carry On Financial TransactionsSection 33: Power Of Rastra Bank To Prescribe ConditionsSection 34: Special Provisions Relating To Opening Of Office By Foreign Bank Or Financial InstitutionSection 35: Suspension And Cancellation Of LicenseSection 36: Conversion Of Licensed Institution Of Lower Class Into Licensed Institution Of Higher ClassSection 37: Conversion Of Licensed Institution Of Higher Class Into Licensed Institution Of Lower ClassSection 38: Liquid Assets Required To Be MaintainedSection 39: List Of Licensed Institutions To Be Published
Chapter - 12
Section 76: Permission To Be Obtained For Voluntary LiquidationSection 77: Order Of Priority In Settlement Of Liabilities On Liquidation Of Licensed InstitutionSection 78: Arbitration/mediationSection 79: Secrecy To Be MaintainedSection 80: Power To Give Directive To Freeze AccountsSection 81: Claim Or Title To DepositsSection 82: Particulars Of Unclaimed Deposits Or DividendsSection 83: Recovery From Or Confiscation Of DepositsSection 84: Management ExpensesSection 85: Power To Remove DifficultiesSection 86: Exemptions And FacilitiesSection 87: Not To Be Liable For Act Done In Good FaithSection 88: Oath-takingSection 89: Acts And Actions Not To Be InvalidatedSection 90: Power To Frame RulesSection 91: Power To Frame Bye-lawsSection 92: Laws In Force To GovernSection 93: Repeal And SavingSection 94: Effect Of Inoperativeness Of The Banks And Financial Institutions Ordinance, 2062(2005 )