Power of attorney
(1) A foreign
company to be registered pursuant to Section 154 shall submit office copy of a
power of attorney executed in the specified format in accordance with the legal
requirements of the country where the company has been incorporated or its
registered office is situated, hereby appointing a person residing in Nepal as
its authorized representative for the purposes of the service of any summons or
notice or authorizing such person to receive any other lawful notices on a
lawsuit or legal action instituted on behalf or legal against the company .
(2) A power
of attorney executed pursuant to Sub-section (1) shall state, inter alias that
where any summons or notice on a lawsuit instituted on behalf of or against the
company or other legal notice is delivered to the authorized representative, it
shall be binding on the company for any purpose whatsoever.
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