(1) In order to implement the objectives of this Act, the Bank shall, having obtained approval of Government of Nepal, frame necessary Rules on the following matters:-
(a) Foreign Exchange Transaction;
(b) Refund of the burnt, torn, defaced or mutilated banknotes and coins;
(c) Transaction of business between Government of Nepal and the Bank;
(d) Other necessary matters which bank thinks necessary to implement the objective of this Act.
(2) In order to implement the objectives of this Act, the Board may frame bye laws on the following matters:-
(a) The venue and time of the meeting of the Board and procedures relating thereto,
(b) Formation of sub-committees by the Board as per necessity and procedures of such sub- committees,
(c) Appointment, promotion, transfer, dismissal, remuneration and facilities, pension, gratuity, provident fund, leave, conduct and discipline
and terms and conditions of service, of the employees of the Bank,
(d) Delegation of authority by the Board to the Governor, by the Governor to the Deputy Governor or other employees of the Bank,
(e) The terms and conditions for the lease agreements to be concluded on behalf of the Bank,
(f) The use of the seal of the Bank,
(g) The accounts, ledger, registrars, books and other record and documents to be maintained by the Bank and the format thereof,
(h) Internal auditing and inspection of the Bank,
(i) Supervision of commercial banks and financial institution,
(j) The particulars to be submitted by commercial banks and financial institutions,
(k) Cash deposit of the Bank or responsibility of the cash,
(l) The case to be filed on behalf of the Bank or operation of other transaction of business,
(m) Credit control,
(m) The Bank’s system of expenditure,
(n) Other necessary subjects, which are necessary to implement the objective of this Act.
(3) Except the subject matters referred to in Sub-Sections (1) and
(2), the Governor shall issue the order, direction, procedures and guidelines to be issued under this Act.
(4) The Bank shall forward, for information of Government of Nepal, the Bye-law framed under Sub-section (2) and the order or directive issued under Sub-section (3). (5) The Bank shall publish and transmit the bye-law framed under
Sub-section (2) or an order or directive issued under Sub-section (3).