Below are some preliminary or terminology used in Company Act, 2063. It is wise to learn below definition to be familiar with such terminologies as per Company Act of Nepal.
1. Short title and commencement:
(1) This act may be called as the “Companies Act, 2063(2006)”.
(2) This Act shall be deemed to have come into force on 20 Ashwin 2063 (6 October 2006).
2. Definitions: In this Act, unless the subject or the context otherwise requires,
(a) “Company” means a company incorporated under this Act.
(b) “Private company” means a private company incorporated under this Act.
(c) “Public company” means a company other than a private company.
(d) “Holding company” means a company-having control over a subsidiary company.
(e) “Subsidiary company” means a company controlled by a holding company.
(f) “Foreign company” means a company incorporated outside Nepal.
(g) “Listed company” means public company which has its securities listed in the stock exchange.
(h) “company not distributing profits” means company incorporated under Chapter 19 on conditions that it shall not be entitled to distribute or pay to its members any dividends or any other moneys out of the profits earned or savings made for the attainment of any objectives.
(i) “Promoter” means a person who, having consented to the matters contained in the memorandum of association and the articles of association to be furnished in the Office for the incorporation of a company, signs the same in the capacity of promoter.
(j) “Officer” includes director, chief executive, manager, company secretary, liquidator and any employee undertaking departmental responsibility of thecompany.
(k) “Memorandum of association” means the memorandum of association of a company.
(l) “Articles of association” means the articles of association of a company.
(m) “Prospectus” means a prospectus to be published by a company pursuant to Section 23.
(n) “Share” means the divided portion of the share capital of a company.
(o) “Preference share” means a share issued as a preference share pursuant to this Act.
(p) “Ordinary share” means a share other than a preference share.
(q) “Bonus share” means a share issued as an additional share to shareholders, by capitalizing the saving earned from the profits or the reserve fund of a company, and this term includes the increase of the paid up value of a share by capitalizing the saving or reserve fund.
(r) “Shareholder” means a person having ownership in the share of a company.
(s) “Debenture” means any bond issued by accompany whether putting its assets as collateral or not.
(t) “Debenture trustee” means a body corporate undertaking the responsibility for the protection of interests of debenture-holders at the time of issuance of debentures by a company.
(u) “Register” means a register of shareholders or debenture-holders maintained under Section 46.
(v) “Seal of company” means the seal of a company to be used by it.
(w) “Securities Board” means the securities board established under the prevailing law to regulate and manage securities.
(x) “Securities” means any shares, bonds, debentures or stocks issued by a company, and this term includes the receipt relating to deposits of securities and the rights and entitlement relating to securities.
(y) “Director” means any director of a company and this term includes any alternate director.
(z) “Board of directors” means the board of directors of a company.
(z1) “Managing director” means a managing director of a company.
(z2) “Premium share” means a share so issued by a company as to sell it for a value in excess of its face value.
(z3) “Net worth” means the assets of a company remaining after deducting the paid up capital, reserve, fund or free reserve of whatever designation to which shareholders have right or all other liabilities other than goodwill, if any, of the company as well as loss provisions , if any, from the total assets of the company for the time being.
(z4) “Consensus agreement” means an agreement made unanimously by all the shareholders of a private company existing for the time being in respect of the operation of the company.
(z5) “Office” means the Company Registrar’s Office set up by the Government of Nepal for the administration of companies.
(z6) “Register” means the Registrar of the Office.
(z7) “Independent director” means any independent director appointed under Sub-section (3) of Section 86.
(z8) “Court” means the commercial bench of a court specified by the Government Nepal by a notification in the Nepal Gazette, with the consent of the Supreme Court.
(z9) “Close relative” means a partition shareholder in joint family or husband, wife, father, mother, mother-in -law, father-in- law, elder brother, younger brother, elder sister, younger sister, sisterin– law ,(elder or younger brother’s wife), brother-in– law , sister–in–law, brother-in- law, (husband of elder sister), uncle, aunt, maternal uncle, maternal aunt, son, daughter, daughter-in-law ,grand–son, grand-daughter, grand-daughter-in– law or son-in–law.
(z10) “Prescribed” or “as prescribed” means prescribed or as prescribed by the Government of Nepal by anotification in the Nepal Gazette.
Marriage Act is an Act made to provide for the Registration of Marriage.
Preamble: Whereas, it is expedient to provide for legal provisions to conclude the marriage through registration and to register the marriage to provide legal certainty as per the need of the changing society,
Be it enacted by His Majesty’s King Mahendra Bir Bikram Shah Dev with the advise and consent of Rastriya Panchayat.
Marriage through Registration
Marriage may be concluded: Except otherwise prohibited to get marriage pursuant to prevailing law, the following male and female may conclude marriage pursuant to this Act,-
(a) In case any of the male or female does not have husband or wife,
(b) In case one of the male or female has not gone mad, and
(c) In case both the male and female have completed the age of twenty years.
Application for Marriage:
(1) The male and female, who are interested to conclude a marriage under this Act, shall submit an application at least fifteen
days earlier, in a prescribed format before the Marriage Registration Officer.
(2) To submit an application pursuant to Sub-section (1), both the male or female or one of them must have resided in the area (jurisdiction) of the concerned Marriage Registration Officer, since at least fifteen days before to submit such application.
Marriage Application Detail Register:
(1) The Marriage Registration Officer shall maintain the detail of the application, received pursuant to Section 5, in the marriage application detail register so prescribed and shall also keep the application in the official record. Such application detail register shall be shown to
the person interested to inspect the register without charging any fees.
(2) The Marriage Registration Officer shall make a decision regarding whether or not to conclude the marriage, within seven days upon receiving the application pursuant to Section 5.
(3) In case, the Marriage Registration Officer denies to conclude the proposed marriage, for finding it in against of the prevailing law, any of the
Officer has been designated by a Notification of 2028.8.17.
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The Entrepreneurs’ Organization’s Global Student Entrepreneur Awards (GSEA) is the premier global competition for student entrepreneurs who actively run a business. EO GSEA nominees compete in qualifying competitions for the chance to advance to the Global Finals. With more than 1,700 competitors from more than 50 countries, EO GSEA is an exclusive opportunity for student entrepreneurs to make connections, find resources, and grow their businesses!
Mid-Valley International College presents EO-GSEA (Entrepreneurs Organization – Global Student Entrepreneurship Award) was organized in Mid-Valley International College, Dillibazar, Kathmandu, Nepal. Different young business entrepreneurs from different area, field and geographical location had participated in this event where they shared their struggle, success stories and evidences.
Abhijit Gupta, on behalf of Young Minds Creation (P) Ltd won one of the title.
Global Student Entrepreneurs Award (Page 5, The Kathmandu Post – 22 Aug, 2012)