CPN-UML (Socialist) has been registered with the Election Commission on Wednesday.
Madhav Kumar Nepal is chairman of the new party that will have 31 federal lawmakers including both the Houses, according to Rajendra Pandey. Jhala Nath Khanal will be senior leader of the new party that has submitted a lost of 95 central members.
Pandey revealed that 58 central members of UML have come in the new party.
The election symbol, however, has yet to be finalized. Pandey said that book was proposed as the election symbol while applying for registration but it may be changed to pen or something else.
President Bidya Devi Bhandari issued the ordinance about political parties earlier on Wednesday paving the way for the Khanal-Nepal faction to split the party.
The ordinance allows split of a party with support of just 20 percent in either the central committee or parliamentary party. The act about political parties earlier required support of 40 percent in both the parliamentary party and the central committee to split any political party.