4. Initiation Types of
Setup an organization in 1992 to facilitate companies company
and cope of business needs, •Private limited
Guiding laws : •Public limited
• Company Act, 2006 •Profit not
• Company Administration Directives, 2009 distributing co.
New features in company law, 2006:
•Any person may come directly without
lawyers and C.A.
•Provision of company secretary (at
least 10 mill. Paid up capital
•Independent directors
•Provision for penalties
•Provision for profit not distributing
Before 1992 •Branch and liaison office of foreign
company
Company act, 1936 •Department of Industry
Company act, 1964 •Department of small and
Company act, 1996 cottage Industry
•Department of Commerce
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5. To promote investment in industry, trade and
business sector
To be benefitted from economic liberalization
To carry out dynamism in economic
development of the country
To make company registration, operation and
administration more easy, transparent and
accessible
To facilitate & promote entrepreneur to start a
new business
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6. Functional Procedure
(A) Company Registration
Any person desirous of undertaking any enterprises through a
company is required to incorporate it with the company registrar.
Documents to be submitted for new registration:
•Memorandum of Association (MOA) and Articles of
Association (AOA) with signature affixed of each share holder
• Certified copy of citizenship for Nepalese citizen,
•Registration certificate if the promoter is body corporate
For foreign person/ company/body
•Passport and visa
•Approval of Department of Industry
•Certified copy of the incorporation and other major documents
relating to such incorporation, if the promoter is a foreign company
or body
Prior approval of designated agency if so required
( NRB - financial institutions)
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7. (B) Company administration
It includes;
• Registration of the records of the shareholders
• Registration of the record of the Board of Directors(BOD)
• Registration of the amendments to MOA and AOA
Approval to the change of the name of the company
Capital increase
Changes and addition in objectives
Changes in address of the company and address for
service
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8. Register in different institution,
Department of Industry,
Department of Cottage & Small Industries
Department of Commerce etc.
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9. Tocope with economic liberalization, Office
of the Company Registrar setup in 1992
ICTwas introduced as partial process of
business registration system.
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10. Integration of ICT in business registration
sector,
Business data - archive in digital format
Start of registration of Profit Not distributing
Companies (Social Goals Company).
Start to register foreign companies branch
and liaison office .
Starting doing business from service delivery
unit
10
11. ICT is :
Necessary tool for simplification and enhance
performance of the administration and business process .
To achieve company data properly for the effective
service delivery.
Required:
Registration process should be delegated in different unit
or branches.
Simplify the legal system for business registration.
Main features / Substantial part should be in the primary
legislation (Act).
Procedural part should be in secondary legislation (regulation).
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12. Record Keeping System
Digital
Manual
Capacity Building
Human Resources
Physical Resources
Decentralization
Service Unit
Devolution
Standardization
Documents (MOA, AOA)
Awareness Building
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14. Centralized Database Repository System of
business registration
Flexibility
A number of details such as procedural part of
company might be dealt in secondary legislation
(Regulation)
Unique Identifier
For the purpose of common use among public
authorities
Compliance
Digital Main Streaming
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