Functions of different committees, Board etc

Public procurement act

1. Public procurement monitoring office shall be formed to monitor, regulate and systematize public procurement system of procurement activities of public entity.

Function, Duties and Power -

1. Make recommendation to GON for reform in procurement policy.
2. prepare standard model of prequalification, bidding documents.
3. Collect statistics and monitor or audit the procurement activities.
4. Review or cause to be reviewed procurement works
5. Prepare records of qualification or experience of construction traders, suppliers and consultant
6. to issue digital procurement guidelines
7. If public entity seeks opinion on act, regulations, manuals, provide such opinion
8. prepare procedures for co-ordination of procurement proceedings and submit to GON.
9. Arrangement for training of bidder and employees.
10. prescribe criteria for exclusion from blacklist
11. certify or cause to certify foreign expert

submit annual report of procurement proceeding to GON

Other Committees in this act are as follows

1. Evaluation Committee - For the evaluation of pre-qualification proposal, bids, expression of interest or proposals of consultancy services or sealed quotation
2. Rate Fixation Committee - In order to fix the rate of construction material and carriage, rent of machine and equipment and the wage of labor to be applicable to the whole district or any part thereof.
3. Review Committee - For Review of application under section 49.

AML Prevention Act

Functions, Duties and Powers of the Investigation officer -

1. Order to provide documents, records - government, regulator RE and related person
2. Conduct search. - Regulator, RE, PE where docs related to ML/TF is suspected to be located and seize.
3. Arrest a person - suspected of ML/TF or suspected to abscond with evidence.
4. Require any person with information of ML/TF to provide info.
5. Trace, identify and evaluate the properties and instrumentality fully and effectively to freeze the property.
6. Write to FIU if believes FIU has any information.

Financial Information Unit

It is formed to collect reports and predicate offences and disseminate such results to other investigation agencies.



• To receive threshold transaction report
• to receive Suspicious transaction report
• to receive Report of BNI and currency
• to analyze the reports received
• to receive any other information
• to disseminate, spontaneously or upon request analysis if suspects ML/TF to the department or other investigation agencies.
• Provide Training
• Provide Feedback and Guidance
• Prepare and submit annual report to GON through NRB
• Supervise RE in co-ordination with regulator to know whether RE has developed mechanism to identify suspicious activity.
• Conclude MOU with foreign Counterparts.

National Co-ordination committee

NCC shall be formed to provide essential suggestions to the GON in regard to the prevention of ML/TF



• Prepare Policy for prevention of offences of ML/TF and submit to GON.
• Co-ordinate related agencies in mitigation of AML/CFT risks
• Implement decision of GON
• Recommend GON to implement policies developed by international organization of which Nepal is a member
• instruct concerned agencies for prevention of ML/TF and monitor
• Discuss annual reports submitted by Concerned Regulator, FIU, RE and make Due Co-ordination.

Regulator

Regulator shall be appointed to regulate, supervise and monitor RE under this act.



1. Undertake Risk Assessment to identify, evaluate and monitor risks in the RE and adopt measures to manage the risk.
2. Require RE to undertake Risk Assessment to identify, evaluate and monitor risks in the RE and adopt measures to manage the risk.
3. Implement or cause to implement act, rules and directives
4. impose mandatory condition to comply this act at the time of registering, licensing or issuing permissions for RE.
5. Require RE to apply AM/CFT measures under core principles for prudential supervision.
6. Inspection and monitoring of RE
7. Determine procedures for EDD
8. Determines measures for risk assessment and EDD of customer of a country not following international AML/CFT standards.
9. Order reporting entity to make any records books, details available thereof.
10. Provide necessary in Investigation
11. inform FIU if a RE doesn't submit STR
12. Training

International financial Transaction Act

Promotion Board

To promote international Transaction in Nepal

1. To Frame Policies
2. To Co-operate with GON in the formulation of laws
3. Maintain Co-ordination of Gov, non-gov and international entities
4. Recommend GON for necessary exemptions facilities and concessions
5. Hear Appeals
6. Delegate powers

Accreditation Committee - Formed for the purpose of granting license for international transaction



Insurance Act

Insurance Board

To systematize, regularize, develop and regulate insurance business in Nepal

1. Suggestion to GON
2. Frame policies regarding Investment
3. Registration, renewal, cancellation
4. Arbitration
5. Dispute settlement
6. Directives
7. Interest protection

Insurance Tariff Advisory Committee

To provide necessary advice and recommendation to the Board relating to the determination of the tariff of the insurance business.

• Determine the necessary policy relating to fixation of Tariff
• Seminar, symposium conferences for uniformity in the Insurance Tariff
• Inspect Supervise, suggest to the Board
• Suggestion to the Board for transparency and development.

Labour Act

Labour Advisory Council - Purpose of giving advice on labour matters to the GON. Functions are as follows -

• Provide advice and suggestion to GON - Labour Policies , appropriate improvement in labor laws, ratification or implementation of any international convention, report concerning any international convention on labour which it is required to submit, formulation of policies concerning vocational skill development training.
• Prepare standards on OSH
• Prepare code of conduct
• necessary co-ordination
• frame and issue directives on collective bargaining.

Minimum Wage Fixation Committee

Purpose of recommending minimum wage in the prescribe manner



IEA

Industry and Investment Promotion Board- Purpose of giving advice to the GON. Functions are as follows -

• Recommend GON relating policies relating to industrial promotion, investment protection and industrialization
• Evaluate on a regular basis, legal, corporate and procedural structure relating to overall industrialization of the country and recommend for its necessary reform.
• Recommend GON for policy related to FITTA
• Recommend GON for policy related to environmental pollution
• Evaluate overall position of industrial development
• Listen to complaints of investors
• Recommend GON regarding, level, classification and nature of industries
• Cause necessary survey for FITTA
• Co--ordination between private and public sector and co-operatives
• co-ordination between province and local level
• Enforcement and implementation of industrial laws
• facilitate operation of one-stop service center

One Stop Service Center

• Registration of company, firm, industry, permission or license, renewal, approval, capacity increment and liquidation or administration
• Approval of Foreign Investment
• Labour permit
• visa facility
• PET and EIA
• Co-ordination with concerned entities for electricity, water, telecommunication, road, land.
• Implement or cause to implement decisions made by GON
• Approval of foreign exchange
• PAN
• import/export
• C-ordination for land facilities
• facilitation in providing approval for minerals
• Implement decision of Board
• Establish and operate investment portal