KATHMANDU: The government has issued an ordinance to amend various Nepalese Acts related to cooperatives, 2081.
President Ram Chandra Poudel issued the ordinance on Sunday, following a recommendation by the Council of Ministers meeting held last Tuesday.
The ordinance aims to regulate cooperatives and ensure the return of funds to savers.
It was submitted to the President’s Office, Sheetal Niwas, on Thursday after being approved by the Council of Ministers.
The ordinance proposes amendments to the Cooperatives Act, 2074, the Nepal Rastra Bank Act, 2058, and the Deposit and Credit Guarantee Fund Act, 2073.
Minister for Communications and Information Technology, Prithvi Subba Gurung, announced during a program in Kathmandu on Wednesday that the Council of Ministers had decided on Tuesday to recommend the ordinance to the President.
Gurung emphasized that the ordinance seeks to ensure the return of savers’ funds. Once issued, the ordinance will be published in the Gazette and come into force.
Comment