From CapeNews.Net By ELIZABETH W. SAITO August 8, 2014 Forty years ago today, President Richard M.
Associations Registration Act No. 10 of 1977
(amended through 1992)
The Associations Registration Act No. 10 of 1977 (amended through 1992) includes regulatory provisions on the establishment and registration of various associations in Nepal, including non-governmental organizations (NGOs) engaged in microfinance. These NGOs are required to be licensed by the Nepal Rastra Bank in order lend money and accept deposits.
This act addresses the following topics:
- Prohibition on establishment of association without registration;
- Registration of associations;
- Status as a corporate body;
- Property of association;
- Registration of associations established previously without registration;
- Alteration in the objectives of association;
- Submission of statements of accounts;
- Examination of accounts;
- Direction to be given;
- Powers to frame rules;
- Requirement of registration or establishment pursuant to other Nepal law; and
- Repeal and Saving.