(1) The Board may, in order to implement the objectives of this Act, frame necessary Rules with the approval of the Government of Nepal,
(2) Without prejudice to the generality of the power conferred by Subsection
(1), such Rules may, in particular, provide contain following matters:-
(a) Securities registration and permission for issuance,
(b) Issue of a license for stock exchanges,
(c) Issue of a license for securities business,
(d) Operation of collective investment schemes,
(e) Terms and conditions of the service of the employees of the
Board,
(f) Maintenance of financial operation and accounts of the Board,
(g) Operation of the compensation fund,
(h) Financial source required to be maintained by securities business
person in relation to the operation of securities business,
(i) Accounts and records of money paid by customers for the
purchase of securities,
(j) Suspension of listing, delisting or transfer of securities,
(k) Other necessary provisions to regulate and manage the activities
of the stock exchange and persons involved in the securities
business by regulating the issue, purchase, sale and exchange of
securities and to protect the interest of investors for development
of the capital market,
(l) Taking over the ownership by purchasing shares in lump sum or
at several times with intent to control the management of
companies.