The business legislations in Nepal are mentioned below:

https://forms.gle/kFHWNbatpoNGiwQC9

 

1. General Business Legislation

 

Private Firm Registration Act, 1958

Partnership Act, 1964

Company Act, 2006

Industrial Enterprise Act, 2020

 

 

2. Finance and Investment Legislation

 

Foreign Investment Technology Transfer Act, 2019 and

Foreign Exchange Regulation Act, 1961

Income Tax Act, 2002

Value Added Tax Act, 1996

 

3. Intellectual Property Legislation

 

Patent, Design and Frademark Act, 1965

Copyright Act, 2002

 

4. Labour Related Legislation

 

Bonus Act, 1974

 

Labour Act, 2017

 

Trade Union Act, 1992

 

Foreign Employment Act, 2007

 

Child Labour Act, 2000

 

Industrial Training Act, 1982

 

5. Consumer Protection Legislation

 

Black Market and Other Social Crime Punishment Act, 1977

 

Food Act, 1966

 

Consumer Protection Act, 1998

 

 

1. General Business Legislation

 

The general business legislations in Nepal are:

 

Private Firm Registration Act, 1958: It deals with the provisions of registering and operation of private firms engaged in trade and industry.

 

Partnership Act, 1964: This act highlights the legal provisions on partnership. It deals with registration, renewal, operations, and dissolution of partnership.

 

Company Act, 2020: It deals with registration, operation and liquidation of company.

 

Industrial Enterprise Act, 2020: It deals with the registration, operation, facilities and dissolution of industries in Nepal.

 

2. Labour Related Legislation

 

The labour related legislations in Nepal are:

 

Bonus Act, 1974: It deals with the provision of bonus to be distributed to the employees. According to this act, the amount of bonus to be distributed should not exceed 10% of the total profit. Further, it should also not be more than the total salary of six months.

 

Labour Act, 2017: The Labour Act, 2017 deals with different facets of labour administration and welfare. It has specified job security, working hours, remuneration, health and safety, and settlement of disputes.

 

Trade Union Act, 1992: It provides legal base for organizing trade unions.

 

A minimum of 10 employees representing at least 25% of the total employees are entitled to form a union. This act encourages collective bargaining. The main objectives of the trade unions as specified by the act are improving the working condition of the workers, enhancement of economic conditions of labour, and improving labour productivity.

 

Foreign Employment Act, 2007: This act has made the provision of

 

licensing for opening up foreign employment office. A certain amount has to be deposited for opening foreign employment office. It also prescribes the procedures of workers selection and sending for foreign employment.

 

Child Labour Act, 2000: According to this act, children below 14 years of age are defined to be child laborers. It prohibits children in hazardous works. If the children are made to work for more than 6 hours a day and 36 hours in a week, it is regarded as illegal.

 

Industrial Training Act, 1982: It deals with the provisions regarding the training of workers for the enhancement of industrial skills. It has made the provision of Training Council.

 

3. Finance and Investment Legislation

 

The different acts related to finance and investments in Nepal are:

 

Foreign Investment and Technology Transfer Act, 2019: It deals with the procedures of foreign investment and technology transter in Nepal. It has made the provision of permission for foreign investment, provision of visa and repatriation facility and operated within its guidelines.

Eronment Regulagaviment

 

53

 

Foreign Exchange Regulation Act, 1961s it deals with the licensing provisions related to the exchange of foreign currency in Nepal. If states that the person or firm or institutions wishing to involve in foreign exchange transactions must get license from Nepal Rastra Bank

 

Income Tax Act, 2002: This act deals with the legal provisions of income tax administration in the country. The tax act has broadened the tax buse

 

Value Added Tax Act, 1996. This act has highlighted the different provisions of VAT administration. Some of them are registration for VAT. obligation of registrants, penalty, and VAT exemption.

 

4. Consumer Protection Legislation

 

The legislations related to consumer rights protection are

 

Black Market and Other Social Crime Punishment Act, 1977: It aims to protect the consumers from illegal hiking of price. This act has provision of regulating and monitoring the market to ensure the reasonable price of goods and services.

 

Food Act, 1966: It deals with protection of health of the people from non-qualitative foods. It has provisions of mechanism to ensure the right quality of the food products.

 

Consumer Protection Act, 1998: This act deals with the provisions of consumer rights in Nepal. It provides some rights to the consumers like right to be safe, right to be informed, right to get heard, and get compensation.

 

5. Intellectual Property Legislation

 

The legislations related to intellectual property are:

 

Patent, Design and Trademark Act, 1965: It deals with the legal provisions related to patents, designs and trademarks.

 

Copyright Act, 2002: It highlights the right of the creator or authors for their creations.

 

The following acts are explained in detail as prescribed by the syllabus.

 

Company Act

 

The Company Act, 2006 deals with registration mperation and liquidation of companies in Nepal.

 

The Company Act, 2006 deals with registration, operation and liquidation of , company. The following are some of the notable features of this act

 

FEATURES OF COMPANY ACT

 

Incorporation

 

Application

 

Registration

 

Limited liability

 

Number of shareholders

 

Terms to be absided

 

General meetings

 

Board of deectors

 

Appointment of auditu

 

Liquidation

 

Features of Company Act

 

 

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