Investor protection fund
(1) Where any investor does not present a claim to have refunded the amount invested in the shares of a company even within five years, there shall be established an investor protection fund to which such amount shall be credited.
(2) The amount credited to the fund established pursuant to Subsection (1) may be spent for the improvement in the capital market, investment policy, companies law or law relating to trade, business, and profession, training to the employees of the Office or the company or in any other activity relating to the company administration.
(3) The management and operation of the fund established pursuant to Sub-section (1) shall be as decided by a committee consisting of the Registrar, the Chairperson of the Securities Board or his/her representative and one representative appointed by the Securities Board from amongst the organization operating the stock exchange.
(4) The Office shall maintain the records of expenses made out of the fund established pursuant to Sub-section (1) and have the fund audited.
(5) Any amount obtained from the Government of Nepal, any donor agency or any person or body may also be credited to the fund established pursuant to Sub-section (1).
(6) Where any investor does not present a claim pursuant to Subsection (1), prior to crediting the amount to the investor protection fund, a notice shall be published in a national daily newspaper inviting the concerned to receive such amount, within the time limit of at least one month.
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