- Type
- Act
- Year
- २०२१ BS
- Status
- In force
- Category
- खण्ड ६: राजश्व तथा आर्थिक प्रशासन · Volume 6: Revenue and Financial Administration
- Official text
- Official page Official text (PDF)
- English translation
- Official English translation archived copy: the original page is no longer online
Includes amendments up to: 2066 BS. Translations may not include later amendments. The Nepali text is the authoritative law.
Analysis drawn from official reports, court rulings and published research, each cited. Figures are being double-checked against the source documents; corrections are welcome.
What does it do?
- The Act (the Corporations Act, 2021 BS) gives a uniform framework for public corporations (संस्थान) created by the government. Where it is necessary or useful for the national interest or public health, convenience or welfare, the government may establish a corporation by Gazette notice stating its name, head office, objectives and board members; the corporation is a perpetual corporate body that can own property and sue and be sued.सरकारले स्थापना गर्ने संस्थानसम्बन्धी व्यवस्थामा एकरूपता ल्याउन यो ऐन बनेको हो। राष्ट्रिय हित वा जनताको स्वास्थ्य, सुविधा वा हितका लागि आवश्यक वा उपयुक्त ठानेमा सरकारले संस्थानको नाम, मुख्य कार्यालय, उद्देश्य र सञ्चालकहरूको विवरण खुलाई राजपत्रमा सूचना प्रकाशन गरी संस्थान स्थापना गर्न सक्छ; संस्थान अविच्छिन्न उत्तराधिकारवाला संगठित संस्था हुन्छ, सम्पत्ति राख्न र नालिस उजुर गर्न सक्छ। Nepal Law Commission (lawcommission.gov.np), consolidated official text Preamble; Sections 2–3, pp. 1–2
- Each corporation is run by a board of directors nominated by the government, who serve at the government's pleasure; minors under 21, people of unsound mind, those convicted of theft, fraud, bribery or embezzlement, bankrupts and those with an interest in the corporation's contracts cannot be directors. Changes to a corporation's objectives need government approval and public notice. The government may give directions that the corporation must follow, through the relevant department.प्रत्येक संस्थानको सञ्चालन सरकारले मनोनीत गरेका सञ्चालक समितिले गर्छ र सञ्चालकहरू सरकारको इच्छाअनुसारको अवधिसम्म रहन्छन्; २१ वर्ष नपुगेका, बौलाहा, चोरी, ठगी, घुस वा हिनामिनामा सजाय पाएका, दामासाहीमा परेका र संस्थानको ठेक्कापट्टामा स्वार्थ भएका व्यक्ति सञ्चालक हुन सक्दैनन्। उद्देश्य वा काम हेरफेर गर्न सरकारको स्वीकृति र सार्वजनिक सूचना चाहिन्छ। सरकारले सम्बन्धित विभागमार्फत दिएका निर्देशन पालना गर्नु संस्थानको कर्तव्य हो। Nepal Law Commission (lawcommission.gov.np), consolidated official text Sections 4–7, 10–11, pp. 3–5
- All grants and income go into a corporation fund held in Nepal Rastra Bank (or another local bank); accounts are kept as the government prescribes and audited every year by an auditor appointed by the government, who reports to the government and the corporation. Falsifying statements or accounts is punishable by up to three years' prison or a fine of up to Rs 3,000, and loss caused can be recovered. The government may dissolve a corporation by Gazette notice, taking over its assets, liabilities and contracts or transferring them to another body.अनुदान र सबै आम्दानी नेपाल राष्ट्र बैंक (वा अर्को स्थानीय बैंक) मा रहने संस्थान कोषमा जम्मा हुन्छ; हिसाब सरकारले तोकेबमोजिम राखिन्छ र सरकारले नियुक्त गरेको लेखापरीक्षकले हरेक वर्ष लेखापरीक्षण गरी सरकार र संस्थानलाई प्रतिवेदन दिन्छ। विवरण वा हिसाबमा बदनियतपूर्वक झुटो कुरा देखाए तीन वर्षसम्म कैद वा तीन हजार रुपैयाँसम्म जरिवाना हुन्छ र हानि नोक्सानी असुल गरिन्छ। सरकारले राजपत्रमा सूचना प्रकाशन गरी संस्थान विघटन गर्न सक्छ, जसपछि त्यसको सम्पत्ति, दायित्व र करार सरकारमा सर्छन् वा अर्को संस्थामा सुम्पिन सकिन्छ। Nepal Law Commission (lawcommission.gov.np), consolidated official text Sections 8–9, 13–14क, pp. 4–6
Gaps, loopholes and improvement ideas
None documented in the official reports we have reviewed so far.
Where does it conflict with other laws?
No conflict with another law is documented in the sources we have reviewed so far.