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Corporate Law CAP II (ICAN) > Bank and Financial Institutions Act Sections. > Flashcards

Bank and Financial Institutions Act Sections. Flashcards

1
Q

Bank and Financial Institutions Act, 2073 - Section 4

A

Prior Approval Required for Incorporation

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2
Q

Bank and Financial Institutions Act, 2073 - Section 5

A

Application for Prior Approval

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3
Q

Bank and Financial Institutions Act, 2073 - Section 7

A

Grounds for Refusal of Prior Approval

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4
Q

Bank and Financial Institutions Act, 2073 - Section 11

A

Restriction on Sale or Pledge of Promoter Shares

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5
Q

Bank and Financial Institutions Act, 2073 - Section 13

A

Restriction on Purchase of Own Shares (Buy-Back)

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6
Q

Bank and Financial Institutions Act, 2073 - Section 14

A

Formation of Board of Directors

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7
Q

Bank and Financial Institutions Act, 2073 - Section 18

A

Qualifications and Disqualifications of Directors

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8
Q

Bank and Financial Institutions Act, 2073 - Section 21

A

Meetings of Board of Directors

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9
Q

Bank and Financial Institutions Act, 2073 - Section 22

A

Functions, Duties and Powers of Board of Directors

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10
Q

Bank and Financial Institutions Act, 2073 - Section 24

A

Records of Details of Directors

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11
Q

Bank and Financial Institutions Act, 2073 - Section 29

A

Appointment of Chief Executive and Terms and Conditions of Service

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12
Q

Bank and Financial Institutions Act, 2073 - Section 30

A

Functions, Duties and Powers of the Chief Executive

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13
Q

Bank and Financial Institutions Act, 2073 - Section 35

A

Grounds for Refusal to Issue License

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14
Q

Bank and Financial Institutions Act, 2073 - Section 37

A

Classification of Bank or Financial Institution

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15
Q

Bank and Financial Institutions Act, 2073 - Section 40

A

Operation of Branch of Foreign Bank

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16
Q

Bank and Financial Institutions Act, 2073 - Section 41

A

Paid-Up Capital

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17
Q

Bank and Financial Institutions Act, 2073 - Section 44

A

General Reserve Fund

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18
Q

Bank and Financial Institutions Act, 2073 - Section 45

A

Exchange Equalization Fund

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19
Q

Bank and Financial Institutions Act, 2073 - Section 49

A

Banking and Financial Transactions (for different classes)

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20
Q

Bank and Financial Institutions Act, 2073 - Section 50

A

Prohibited Acts

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21
Q

Bank and Financial Institutions Act, 2073 - Section 55

A

Lending or Disbursement of Credits

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22
Q

Bank and Financial Institutions Act, 2073 - Section 57

A

Recovery of Credit

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23
Q

Bank and Financial Institutions Act, 2073 - Section 60

A

Audit Committee

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24
Q

Bank and Financial Institutions Act, 2073 - Section 62

25
Q

Bank and Financial Institutions Act, 2073 - Section 63

A

Appointment and Remuneration of Auditor

26
Q

Bank and Financial Institutions Act, 2073 - Section 66

A

Matters to be Included in the Audit Report

27
Q

(Sec) Prior Approval Required for Incorporation

A

Bank and Financial Institutions Act, 2073 - Section 4

28
Q

(Sec) Application for Prior Approval

A

Bank and Financial Institutions Act, 2073 - Section 5

29
Q

(Sec) Grounds for Refusal of Prior Approval

A

Bank and Financial Institutions Act, 2073 - Section 7

30
Q

(Sec) Restriction on Sale or Pledge of Promoter Shares

A

Bank and Financial Institutions Act, 2073 - Section 11

31
Q

(Sec) Restriction on Purchase of Own Shares (Buy-Back)

A

Bank and Financial Institutions Act, 2073 - Section 13

32
Q

(Sec) Formation of Board of Directors

A

Bank and Financial Institutions Act, 2073 - Section 14

33
Q

(Sec) Qualifications and Disqualifications of Directors

A

Bank and Financial Institutions Act, 2073 - Section 18

34
Q

(Sec) Meetings of Board of Directors

A

Bank and Financial Institutions Act, 2073 - Section 21

35
Q

(Sec) Functions, Duties and Powers of Board of Directors

A

Bank and Financial Institutions Act, 2073 - Section 22

36
Q

(Sec) Records of Details of Directors

A

Bank and Financial Institutions Act, 2073 - Section 24

37
Q

(Sec) Appointment of Chief Executive and Terms and Conditions of Service

A

Bank and Financial Institutions Act, 2073 - Section 29

38
Q

(Sec) Functions, Duties and Powers of the Chief Executive

A

Bank and Financial Institutions Act, 2073 - Section 30

39
Q

(Sec) Grounds for Refusal to Issue License

A

Bank and Financial Institutions Act, 2073 - Section 35

40
Q

(Sec) Classification of Bank or Financial Institution

A

Bank and Financial Institutions Act, 2073 - Section 37

41
Q

(Sec) Operation of Branch of Foreign Bank

A

Bank and Financial Institutions Act, 2073 - Section 40

42
Q

(Sec) Paid-Up Capital

A

Bank and Financial Institutions Act, 2073 - Section 41

43
Q

(Sec) General Reserve Fund

A

Bank and Financial Institutions Act, 2073 - Section 44

44
Q

(Sec) Exchange Equalization Fund

A

Bank and Financial Institutions Act, 2073 - Section 45

45
Q

(Sec) Banking and Financial Transactions (for different classes)

A

Bank and Financial Institutions Act, 2073 - Section 49

46
Q

(Sec) Prohibited Acts

A

Bank and Financial Institutions Act, 2073 - Section 50

47
Q

(Sec) Lending or Disbursement of Credits

A

Bank and Financial Institutions Act, 2073 - Section 55

48
Q

(Sec) Recovery of Credit

A

Bank and Financial Institutions Act, 2073 - Section 57

49
Q

(Sec) Audit Committee

A

Bank and Financial Institutions Act, 2073 - Section 60

50
Q

(Sec) Auditing

A

Bank and Financial Institutions Act, 2073 - Section 62

51
Q

(Sec) Appointment and Remuneration of Auditor

A

Bank and Financial Institutions Act, 2073 - Section 63

52
Q

(Bank and Financial Institution Act, 2073) - Bank:

A

An institution, company or a firm with a place of business dealing with money and credit, accepts deposits from the public and advances loans.

53
Q

(Bank and Financial Institution Act, 2073) - Financial Institution:

A

Means a corporate body incorporated to carry on banking and financial transactions pursuant to the Act, excluding banks.

54
Q

(Bank and Financial Institution Act, 2073) - Capital Fund:

A

Means the total sum of primary capital and supplementary capital of a bank or financial institution as specified by the Rastra Bank.

55
Q

(Bank and Financial Institution Act, 2073) - Core Capital:

A

Means the total balance amount of paid-up capital, share premium, non-redeemable preference share, general reserve fund and retained earnings or loss.

56
Q

(Bank and Financial Institution Act, 2073) - Risk-weighted assets:

A

Calculated by assigning weights specified by the Nepal Rastra Bank to all on-balance sheet and off-balance sheet exposure of the bank/financial institutions.

57
Q

(Bank and Financial Institution Act, 2073) - Electronic transaction:

A

Means the business of accepting deposits, making payments and transferring funds through electronic instruments or devices.

58
Q

(Bank and Financial Institution Act, 2073) - Licensed Institution:

A

Refers to banks and financial institutions that have obtained a license from Nepal Rastra Bank to carry out financial transactions.

Corporate Law CAP II (ICAN) (13 decks)

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