Senior figures of main opposition party CPN-UML Madhav Kumar Nepal and Jhalanath Khanal are looking to register a new party following the issuance of the ordinance to amend the Political Parties Act 2071.

President Bidya Devi Bhandari has already approved the ordinance endorsed by the Sher Bahadur Deuba-led government yesterday aimed at easing the procedure for political parties to split, on Wednesday.

The Khanal-Nepal faction is currently collecting signatures of as many central committee members as they can in a bid to register the new party, it has been learnt.

Leaders are also mulling over a new name for the to-be formed new party which will be chaired by Madhav Kumar Nepal.

Meanwhile, a majority of the second generation leaders belonging to the faction have stood against the decision to hastily register a new party and have suggested the leadership to think the matter through for a few days.

The amendment ordinance stipulates that 20 per cent or more members of the parliamentary party and the central committee of a political party can split their mother party. Before the amendment, provisions of the Political Party Act required dissidents to have the support of 40 per cent of members in the parliamentary party and the central committee to split their mother party.