(1) Whoever joins a public office shall, within sixty days from the date of joining the public office, and whoever is engaged in a public office on the date of commencement of this Section shall, within sixty days from the date of commencement of this Act, and thereafter within sixty days from the
date of completion of each fiscal year, submit the up dated statement of property in his/her name or in the name of his/her family members along with the sources or evidence thereof to the body or authority
prescribed by Government of Nepal having published a notification in the Nepal Gazette.
(2) In case the person assuming a public office who is unable to submit the statement of property within the time limit referred to in Sub- section (1) makes a request for extension of the time limit having stated
therein the reasons for his/her not being able to submit such statement, the concerned body or authority may extend the time limit for a period of thirty days in maximum.
(3) The person assuming a public office who does not submit the statement of property within the time limit extended pursuant to Sub- section (2) shall be liable to a fine of five thousand rupees and the
concerned body or official may investigate having suspected that there is illegal property in his/her and his/her family member’s names.
(4) The statement of property submitted under this section Shall be confidential.
Provided that, if statement of property is required in connection with investigation and inquiries under this Act, such statement may be made available to the concerned authority.