6.5 Nepalese Legal Provision

• The Code, Part 5, Chapter 13 — the dedicated hire-purchase chapter: formation, the parties' covenants, the default-and-repossession discipline (described by effect, without section numbers).• The financing statutes: the Banking and Financial Institutions Act 2073 (hire-purchase financing as a banking function; realization of security on default) and the NRB directives' consumer-credit margins.The established principle from this line: it is not unlawful for the financing institution or person collecting the loan to seek recovery from the securities it or he holds — the financier's realization of its security stands within the law's protection. Prescribed within this course, it anchors the hire- purchase-and-leasing financier's rights against defaulting hirers/lessees; cite it with the syllabus's citation.• Practice: the vehicle-finance deeds (the hire-purchase agreement plus the delivery-and- registration practice — the financier noted in the records until completion), insurance endorsement, the repossession disputes of the consumer courts' era, and the Consumer Protection Act 2075's unfair-terms face.