Nepal's Anti-Graft Body to Expand Oversight to Private Sector
Summary
Nepal's Commission for the Investigation of Abuse of Authority (CIAA) plans to extend its anti-corruption investigations to the private sector, including cooperatives and private companies, with new laws and stricter regulations within the next two years.
Key Points
- The CIAA plans to investigate business operations in Nepal's private sector to ensure good governance.
- A new Anti-Corruption Act will be drafted within two years to define corruption and penalties in the private and cooperative sectors.
- Legal amendments will criminalize bribery, misappropriation, and record falsification in private economic and commercial activities.
- Stricter provisions will be introduced for share transactions over 1 million rupees, improving transparency and controls in private companies.
_Vh1wedG2Zd.jpg)