CHAPTER 2
INCORPORATION OF COMPANY
(1) Any person desirous of undertaking any enterprise with profit motive may, either singly or jointly with others, incorporate a company for the attainment of one or more objectives set forth in the memorandum of association.
(2) There shall be a minimum of seven promoters for the incorporation of a public company.
Provided, however, that seven promoters shall ….Read More….
(1) Any person desirous of incorporating a company pursuant to Section 3 shall make an application to the Office, in such format and accompanied by such fees as prescribed, and along with the following documents, as well:
- (a) The memorandum of association of the proposed company ….Read More….
(1) Where an application is made for the incorporation of a company pursuant to Section 4, the Office shall, after making necessary inquiries, register such company within 15 days after the date of the making of the application and grant the company registration certificate to the applicant, in the format as prescribed.
(2) After a company has been registered pursuant to Sub-section (1), the ….Read More….
(1) The Office may refuse to register a company in any of the following circumstances:
- (a) If the name of the proposed company is identical with the name by which a company in existence has been previously registered or so resembles the name of that company as it might cause misleading, ….Read More….
(1) Any company incorporated under this Act shall be an autonomous and corporate body with perpetual succession.
(2) Subject to this Act, company like an individual, acquire, hold, sell, dispose of or otherwise deal with, any movable or immovable ….Read More….
The liability of a shareholder of a company incorporated under this Act in respect of its transactions shall be limited on to the maximum value of shares which he has subscribed ….Read More….
(1) The number of shareholders of a private company shall not exceed fifty.
(2) Subject to the proviso to Sub-section (2) of section 3, the number of shareholders of a public company shall be seven in minimum and a maximum of any number.
(3) Notwithstanding anything contained in Sub-section (1), any employee ….Read More….
A company incorporated under this Act shall abide by the following terms, in addition to those set forth in this Art, memorandum of association or articles of association:
(a) The company shall carry on all of its activities and transactions by its name.
(b) A private company shall add the words “private limited’’ to its name as the last words and a public company shall add the word “limited” to its name as ….Read More….
(1) The paid-up capital of a public company shall be a minimum of ten million rupees, except as otherwise provided in the prevailing law or in a notification by the Government of Nepal in the Nepal Gazette that the paid-up capital of any particular company shall be in excess of the said required minimum.
(2) Notwithstanding anything contained in subsection (1), a public ….Read More….
Notwithstanding anything contained elsewhere in this Act, a company carrying on the business of banking, financial transactions, insurance business-related transactions, stock exchange business, pension fund or mutual fund or a company carrying on such ….Read More….
(1) In the following circumstances, a private company shall be converted into a public company under this section:
(a) If the general meeting of the private company, by adopting a special resolution, decides to convert that company into a public company, Provided, however, that no private company shall be capable of being converted into a public company unless ….Read More….
(1) In the following circumstance, a public company shall be converted into a private company under this Section:
(a) If the number of shareholders of the public company becomes less than seven,
(b) If the public company fails to maintain its paid-up capital under ….Read More….
(1) Notwithstanding anything contained in the prevailing law, if any notice, summons, letters rogatory etc. required to be served on a company, director, shareholder, debenture-holder or employee in regard to the transactions of, or any matter related with, the company, is delivered at the registered office of the company or sent by registered post or sent through the tale-fax, email, telex or similar other electronic device installed in such office, such notice, summons or letter oratory shall be deemed to have ….Read More….
(1) It shall be the duty of the Registrar to implement this Act and carry out company administration.
(2) Without prejudice to the generality of Sub-section (1), the Registrar may frame and issue necessary directives for the implementation of this Act and the carrying out of company administration related functions in an effective or systematic manner: and it shall be the duty of each company and officer to abide ….Read More….
(1) A contract made prior to the incorporation of a company shall be a proposed contract only, and such contract shall not be binding on the company.
(2) If prior to the incorporation of a company, any person carries on any transaction or borrows money on behalf of the company, such person shall be personally liable for any contract related with the transaction ….Read More….
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