www.lawcommission.gov.np (4) The powers of the Local Level shall be vested on the matters enumerated in Schedule-8 and such powers shall be exercised in accordance with this Constitution and law made by the Rural Municipal Assembly or Municipal Assembly, as the case may be. (5) The concurrent powers of the Federation, Provinces and Local Levels shall be vested on the matters enumerated in Schedule-9 and such powers shall be exercised in accordance with this Constitution, federal law, provincial law and law made by the Rural Municipal Assembly or Municipal Assembly, as the case may be. (6) Any law to be made by a Provincial Assembly, Rural Municipal Assembly or Municipal Assembly pursuant to clause (3) or (5) shall be so made as not to be inconsistent with the federal law; and any law made by the Provincial Assembly, Rural Municipal Assembly or Municipal Assembly which is inconsistent with the federal law shall be invalid to the extent of such inconsistency. (7) Any law to be made by a Rural Municipal Assembly or Municipal Assembly, as the case may be, pursuant to clause (5) shall be so made as not to be inconsistent with a provincial law; and any law made by the Rural Municipal Assembly or Municipal Assembly which is inconsistent with a provincial law shall be invalid to the extent of such inconsistency. 58. Residuary Powers: The Federation shall have power on any matter not enumerated in the list of powers of the Federation, Province and Local Level or Concurrent Lists or on any matter which is not so specified in this Constitution as to be exercised by any level. 59. Exercise of Financial Powers: (1) The Federation, Province and Local Level shall make laws, make annual budget, decisions, formulate and implement policies and plans on any matters related to financial powers within their respective competence. (2) The Federation may so make necessary policies, standards and laws on any of the matters enumerated in the Concurrent List and other areas of financial powers as to be applicable also to the Provinces. (3) The Federation, Province and Local Level shall make budget of their respective levels, and the time for submission of budget by Province and Local Level shall be as provided for in the federal law. 35