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

Bank and Financial Institutions Act Sections. Flashcards

(58 cards)

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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
Bank and Financial Institutions Act, 2073 - Section 63
Appointment and Remuneration of Auditor
26
Bank and Financial Institutions Act, 2073 - Section 66
Matters to be Included in the Audit Report
27
**(Sec)** Prior Approval Required for Incorporation
Bank and Financial Institutions Act, 2073 - Section 4
28
**(Sec)** Application for Prior Approval
Bank and Financial Institutions Act, 2073 - Section 5
29
**(Sec)** Grounds for Refusal of Prior Approval
Bank and Financial Institutions Act, 2073 - Section 7
30
**(Sec)** Restriction on Sale or Pledge of Promoter Shares
Bank and Financial Institutions Act, 2073 - Section 11
31
**(Sec)** Restriction on Purchase of Own Shares (Buy-Back)
Bank and Financial Institutions Act, 2073 - Section 13
32
**(Sec)** Formation of Board of Directors
Bank and Financial Institutions Act, 2073 - Section 14
33
**(Sec)** Qualifications and Disqualifications of Directors
Bank and Financial Institutions Act, 2073 - Section 18
34
**(Sec)** Meetings of Board of Directors
Bank and Financial Institutions Act, 2073 - Section 21
35
**(Sec)** Functions, Duties and Powers of Board of Directors
Bank and Financial Institutions Act, 2073 - Section 22
36
**(Sec)** Records of Details of Directors
Bank and Financial Institutions Act, 2073 - Section 24
37
**(Sec)** Appointment of Chief Executive and Terms and Conditions of Service
Bank and Financial Institutions Act, 2073 - Section 29
38
**(Sec)** Functions, Duties and Powers of the Chief Executive
Bank and Financial Institutions Act, 2073 - Section 30
39
**(Sec)** Grounds for Refusal to Issue License
Bank and Financial Institutions Act, 2073 - Section 35
40
**(Sec)** Classification of Bank or Financial Institution
Bank and Financial Institutions Act, 2073 - Section 37
41
**(Sec)** Operation of Branch of Foreign Bank
Bank and Financial Institutions Act, 2073 - Section 40
42
**(Sec)** Paid-Up Capital
Bank and Financial Institutions Act, 2073 - Section 41
43
**(Sec)** General Reserve Fund
Bank and Financial Institutions Act, 2073 - Section 44
44
**(Sec)** Exchange Equalization Fund
Bank and Financial Institutions Act, 2073 - Section 45
45
**(Sec)** Banking and Financial Transactions (for different classes)
Bank and Financial Institutions Act, 2073 - Section 49
46
**(Sec)** Prohibited Acts
Bank and Financial Institutions Act, 2073 - Section 50
47
**(Sec)** Lending or Disbursement of Credits
Bank and Financial Institutions Act, 2073 - Section 55
48
**(Sec)** Recovery of Credit
Bank and Financial Institutions Act, 2073 - Section 57
49
**(Sec)** Audit Committee
Bank and Financial Institutions Act, 2073 - Section 60
50
**(Sec)** Auditing
Bank and Financial Institutions Act, 2073 - Section 62
51
**(Sec)** Appointment and Remuneration of Auditor
Bank and Financial Institutions Act, 2073 - Section 63
52
**(Bank and Financial Institution Act, 2073) - Bank:**
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
**(Bank and Financial Institution Act, 2073) - Financial Institution:**
Means a corporate body incorporated to carry on banking and financial transactions pursuant to the Act, excluding banks.
54
**(Bank and Financial Institution Act, 2073) - Capital Fund:**
Means the total sum of primary capital and supplementary capital of a bank or financial institution as specified by the Rastra Bank.
55
**(Bank and Financial Institution Act, 2073) - Core Capital:**
Means the total balance amount of paid-up capital, share premium, non-redeemable preference share, general reserve fund and retained earnings or loss.
56
**(Bank and Financial Institution Act, 2073) - Risk-weighted assets:**
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
**(Bank and Financial Institution Act, 2073) - Electronic transaction:**
Means the business of accepting deposits, making payments and transferring funds through electronic instruments or devices.
58
**(Bank and Financial Institution Act, 2073) - Licensed Institution:**
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) (15 decks)

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