5 Questions
What is the short title of the Companies Act, 2063(2006)?
The short title of the Companies Act, 2063(2006) is 'Companies Act, 2063(2006)'.
Define a private company as per the Companies Act, 2063(2006).
As per the Companies Act, 2063(2006), a private company means a company incorporated under this Act.
When did the Companies Act, 2063(2006) come into force?
The Companies Act, 2063(2006) came into force on 20 Ashwin 2063 (6 October 2006).
What is the definition of a holding company according to the Companies Act, 2063(2006)?
According to the Companies Act, 2063(2006), a holding company means a company having control over a subsidiary company.
What is the objective of amending and consolidating the law relating to companies as per the preamble of the Companies Act, 2063(2006)?
The objective is to bring about dynamism in the economic development of the country by promoting investment in the industry, trade, and business sectors through economic liberalization and make the incorporation, operation, and administration of companies much easier, simpler, and more transparent.
Study Notes
Companies Act, 2063(2006)
- The short title of the Companies Act, 2063 is "Companies Act, 2063".
- A private company is defined as a company that by its articles restricts the right to transfer its shares, limits the number of its members to two hundred, and prohibits any invitation to the public to subscribe for its shares or debentures.
Commencement and Objective
- The Companies Act, 2063 came into force on January 17, 2007.
- The objective of the Act is to amend and consolidate the law relating to companies, providing for the incorporation, management, and regulation of companies and matters connected therewith.
Holding Company
- A holding company is defined as a company that holds more than half of the nominal value of the equity share capital of another company or controls the composition of the Board of Directors of another company.
Test your knowledge of The Companies Act, 2063 (2006) and its amendments with this quiz. See how well you understand the legal framework relating to companies in Nepal and its impact on economic development.
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