Kathmandu. Chairman of Nepal Insurance Authority Sharad Ojha has said that cross holding could not be identified in the insurance sector due to lack of legal provision regarding ‘beneficiary forest’.

He said the government should formulate a policy for this. He was speaking at a programme organized in the capital on Tuesday to unveil the annual policy and programme for the upcoming fiscal year.

Although the Act has given two years time for this, it has not been implemented, he claimed. According to him, there is a problem in identifying the ownership issue of investment of individuals and companies in insurance companies. Ojha said that there is a problem in separating the cross holding as some people have also been divided.