2. Definition: Unless the subject or content means otherwise in these
Rules-
(a) “Fund” means the Sundry Insurance Fund established under Rule
3.
(b) “Risk Group” means the risk to be given security against the loss
caused by the activities like riot, strike, civic tort, revolt and
terrorism.
(c) “Insurance Committee” means the Insurance Committee
established under Sub-section (1) of Section 3 of the Insurance
Act, 2049 (1992).
(d) “Board of Directors” means the Board of Directors of the Fund
constituted under Rule 9.
1
Pursuant to the notice published in the Nepal Gazette dated Oct. 17, 2003, the Rules has come
into force from Oct. 18, 2003.
www.lawcommissin.gov.np
2
www.lawcommissin.gov.np
(e) “Member Insurer” means the insurer having obtained
membership of the fund under Rule 4.
(f) “Member” means the Member of the Board of Directors and the
term means the chairperson of the Board of Directors and the
Fund Manager also.
(g) “Fund Manager” means the Manager of Fund appointed under
Rule 15.
(h) “Fiscal Year” means the period between 1st Sharwan (Mid July)
to last day of Ashad (Mid July) of every year.