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Nepal Company Act of 1964
(amended through 1991)
The Nepal Company Act of 1964 (amended through 1991) relates to the operations of companies in Nepal. Microfinance development banks (MFDBs) are established under this act.
This act consists of the following sections:
- Chapter 1 Preliminary: defines language within the act and addresses the incorporation and registration of a company;
- Chapter 2 Shares and Debentures: addresses topics such as the allotment of shares and the issuance of loans or debentures;
- Chapter 3 Meetings and Business of the Company: includes information on voting rights, meetings, and the general business of the company;
- Chapter 4 Managing Agents: discusses the appointment, responsibilities, and liability of managing agents;
- Chapter 5 Accounts of the Company: explains the preparation and use of financial statements;
- Chapter 6 Audit: addresses the role and appointment of an auditor;
- Chapter 7 Explanation and Investigation: includes topics such as the submission of accounts and records, and the expenses of investigation;
- Chapter 8 Liquidation of Company: discusses matters related to liquidation;
- Chapter 9 Provisions Relating to Foreign Companies: addresses the submission of documents by foreign companies and the maintenance and audit of accounts of foreign companies;
- Chapter 10 Miscellaneous Arrangements;
- Chapter 11 Legal Action and Penalties: discusses the filing of suits and imposition of fines; and
- Chapter 12 Repeal and Saving.