Government’s action plan to repeal 14 acts within two years, issue 10 acts within a year

Kathmandu. The government has prepared an action plan to repeal 14 acts within two years and issue 10 acts.

A committee formed by the government to implement the recommendations of the report of the High Level Economic Reform Suggestion Commission formed under the chairmanship of former Secretary Rameshwor Prasad Khanal has prepared such an action plan with sectoral and ministerial responsibilities and timelines. The action plan has set a deadline to repeal these 14 acts within two years and issue 10 acts within one year.

14 Acts to be repealed{

• Income Tax Act, 2019
• The Black Market and Some Other Social Crimes and Punishment Act, 2032
• Private Forest Forest Nationalization Act, 2013
• The Administrative Procedures (Regularization) Act, 2013
• Compensation Act, 2019
• Birta Abolition Act, 2016
• Birtawal’s No Food Act, 2015
• The Revenue Leakage (Investigation and Control) Act, 2052
• The Foreign Investment Prohibition Act, 2021
• Nepal Agencies Act, 2014
• The Provincial Development Plans (Implementation) Act, 2013
• Social Behavior Reform Act, 2033
• The Nepali Currency Promotion Act, 2014
• The Financial Intermediaries Act, 2055

Issuing Act{

• Repealing the Export Import (Control) Act, 2013 and issuing the Export Import Regulation Act.

Repeal TAG_OPEN_li_44 the Drugs Act, 2035 and issue the Drugs and Health Materials Regulation Act.

• Issue of Private Property Acquisition Act by merging The Real Estate Acquisition Act, 2013 and The Land Acquisition Act, 2034.
• To issue an Act to protect intellectual property rights by merging the Patent, Design and Trademark Act, 2022 and the Copyright Act, 2058.
• Ratify the Madrid System and the agreement under it and participate in the Patent Cooperation Treaty to protect the intellectual property of Nepali businessmen internationally.

Issu TAG_OPEN_li_40 ing the Construction Materials Management and Regulation Act such as stones, ballast, sand.

• Issue of Credit Information Report Act to streamline the credit assessment system.
• To issue a new price-related act to cover small consumers and entrepreneurs who are facing financial problems.

TAG_OPEN_li_37 Issue of limited liability sharing act as an option for alternative investment organizations to be registered as organized entities.

The ministries concerned along with the Office of the Council of Ministers are responsible for repealing and issuing these Acts and monitoring and supervising bodies.