Nepal has extended parliament's term for a fourth time in order to draft a new constitution for the new republic.

Speaker Subash Nemwang said Tuesday that 505 out of 508 lawmakers voted to extend the Constituent Assembly's term by another six months.

The Constituent Assembly was formed in 2008, after Nepal's monarch was abolished. The assembly's term has already been extended three times in order to draft a constitution.

The previous extension was set to expire on Wednesday.

Earlier this month, Nepal's main political parties agreed to a deal to integrate thousands of former Maoist fighters into the country's army, in a move seen as bolstering the peace process.

Maoist rebels were allowed to join the government after a 2006 peace deal ended their decade-long insurgency that claimed more than 13,000 lives.