Section 3
Establishment Of Trust
(1) A Trust called ‘Citizen Investment Trust’ shall be established.
(2) Trust shall be an autonomous and corporate body having perpetual succession.
(3) Trust shall have its own separate Seal for its act and activities.
(4) Trust may, subject to this Act, acquire, possess, hold, sell and manage otherwise movable or immovable property.
(5) The Trust may sue from its own name and it may be sued in the same name.
(6) Head Office of the Trust shall be located at Katmandu and the Trust may open branches inside or outside Nepal and may appoint agent or representative.
(2) Trust shall be an autonomous and corporate body having perpetual succession.
(3) Trust shall have its own separate Seal for its act and activities.
(4) Trust may, subject to this Act, acquire, possess, hold, sell and manage otherwise movable or immovable property.
(5) The Trust may sue from its own name and it may be sued in the same name.
(6) Head Office of the Trust shall be located at Katmandu and the Trust may open branches inside or outside Nepal and may appoint agent or representative.