Paid up capital of public company

Paid up capital of public company

(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 company which does not have the paid-up capital as mentioned in that subsection at the time of commencement of this Act shall maintain the capital referred to in subsection (1) no later than 22 Ashwin 2065 (8 December 2008).