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3. Establishment of the trust 

3. Establishment of the trust

(1) After the commencement of this Act, a Trust called “Nepal Trust” shall be established in order to manage, operate and utilize the property remained in the name of King Birendra, Queen Aishwarya and their family members at the time of their demise in the interest of the Nation.
Explanation: For the purpose of this Act family means elder son Dipendra and younger son Nirajan of king Birendra and Queen Aishwarya.
(2) The Trust shall be an autonomous and a corporate body with perpetual succession.
(3) The Trust may acquire, possess, sell or otherwise manage any movable and immovable property as good as a person.
(4) The Trust may sue or be sued by or against its name as good as a person.
(5) The Trust shall be competent to make a contract and to exercise the right and to bear the obligation as per the contract.
(6) The Trust shall, for its functions and activities, have its own separate seal and such seal shall be as determined by the Committee.

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