5. Duration of the Registered Agency, Renewal and Fee

5. Duration of the Registered Agency, Renewal and Fee

5. Duration of the Registered Agency, Renewal and Fee:

(1) An agency shall remain valid up to the last day of Chairta (Mid April) of the year in which it is registered. A person intending to get renewed the registration of his agency shall, prior to the termination of duration, have to
get renewed such registration by submitting application to the officer prescribed in Rule 3.
Provided that, the agencies having obtained approval of the Government of Nepal prior to coming into force of the Act, shall pay the lump sum amount of renewal fee from the date of coming into force of the Act to 2019 (1963) and if the agents being registered after coming into force of the Act to the last day of Chairta, 2018 (April 12, 1962) pay the
due charge of renewal of each year in lump sum at the rate as mentioned in sub-Rule (2) within the time limit specified by the Government of Nepal by publishing a notice in the Nepal Gazettee, the official prescribed in Rule 3
may renew the registration of such agencies on condition to be remained the validity up to the last day of Chaitra, 2019 (April 13, 1963) and issue the certificate thereof to the agent.

(2) A person applying for renewal shall submit renewal fee Twenty Rupees with the application. Provided that, the application fee shall not be levied.