Apex court orders to clip CIAA wings
KATHMANDU: The Supreme Court (SC) has issued directives to the Commission for the Investigation of Abuse of Authority (CIAA) not to exercise regulatory power over non-related institutions and professions.
A three-member special bench, comprising Chief Justice Anup Raj Sharma and Justices Mohan Prakash Sitaula and Bharat Raj Upreti, issued the order.
In its full text of judgment made public today, the apex court directed the CIAA not to take action against any authority out of its jurisdiction. The SC told the CIAA not to intervene in independent professions such as security board business, banking and finance, insurance and legal profession since they are regulated by respective authorities.
“The CIAA is not specialised to regulate these independent professions, which are governed and monitored by authorities concerned,” the bench observed.
The bench also nullified the one-year-old CIAA order to the Nepal Stock Exchange (NEPSE) Ltd regarding the selection of brokers.