Other Provisions relating to banks or financial institutions

Other Provisions relating to banks or financial institutions:

Provisions relating to Prospectus of banks or financial institutions: (1) Before publicly issuing its securities, every bank or financial institution shall obtain approval of the Securities Board in relation to the registration of the prospectus in accordance with the laws in force relating to securities and have the prospectus registered with the ....Read More....

Provisions relating to Allotment of shares of banks or financial institutions: (1) Every bank or financial institution shall set aside at least thirty percent of its total issued capital for subscription by the general public. The bank or financial institution may set aside a maximum of five percent of the shares so set aside for its employees. Provided that ....Read More....

Provisions relating to Dealing in securities of banks or financial institutions: (1) While issuing its securities for subscription by the general public, every bank or financial institution does all acts such as the sale, allotment, and recovery of amounts, of such securities in accordance with the laws in force relating to securities ....Read More....

Provisions relating to Prohibition on selling or pledging shares and debentures  of banks or financial institutions: (1) Notwithstanding anything contained in the laws in force, the promoter of a bank or financial institution shall not be entitled to sell or pledge any share registered in his or her name  ....Read More....

Provisions relating to Prohibition on the purchase by the bank or financial institution of its own shares: (1) No bank or financial institution shall purchase its own shares (buy-back) or lend money against the security of its own shares.  (2) Notwithstanding anything contained ....Read More....

Provisions relating to Restriction on dealing in securities of banks or financial institutions : (1) No director, chief executive, auditor or secretary of a bank or financial institution, or any person directly involved in the management and accounting functions of a bank or financial institution shall sell, purchase or pledge, gift or exchange, or cause to be purchased, pledged, gifted or ....Read More....

Provisions Concerning Formation of Board of Directors of Banks or Financial Institutions: (1) Every bank or financial institution shall have a Board of Directors. The Board shall consist of not less than five and not more than nine Directors. (2) Subject to Sub-section (1), there shall be appointed to the Board a professional director from the list of professional ....Read More....

Provisions Concerning List of professional experts to be maintained by Banks or Financial Institutions: (1) For the purposes of Sub-section (2) of Section 12, the Rastra Bank shall maintain a list of professional experts on the basis of the following qualification and experience: (a) Having obtained at least master’s degree in management, banking, finance, money, economics, commerce, trade, ....Read More....