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Chapter 5 (Differences between private and public (Number of members (In…
Chapter 5
Differences between private and public
Number of members
In private minimum 2 and maxuimum 50, In public between 7 and total number of shares
Subscription of Shares and Debentures
Commencement of Business
Transferability of Shares
Minimum Subscription
Company Name
Number of Directors
In private 2, in public at least 3
Issue of Prospectus
Scope of Business
Financial Strength
Articles of Association
Secrecy of business Operatons
Legal Formalities
Labor Law
Article related to Working hours
Article related to Provision of Welfare
Arrangements relating to Health Safety
Protection of Eyes
Protection from chemical substances
Arrangement for protection from fire
Dangerous machinery to be fenced
Welfare arrangements
Special provisions applicable to special establishments
Renumeration
Features of Company
Legal artificial person
Perpetual eistence
Limited Liability
Common Seal
Voluntary association of people
Capital collected by distributing shares
Transferability of shares
Management by representatives
Publication of financial statement
Sources of Business Law
English Business Law
Nepalese statutory act
Judicial decisions
Writings and opinions of scholars
Commercial treaties and agreements
Nepal Engineering Council
autonomous body formed under NEC Act 2054
regulates engineering profession effectively and scientifically
undertakes licensing of Engineers in accordance with their qualifications
Jurisdiction of Nepal Engineering Council
Licensing(Registration) of Engineers
Officially recognition of certificates of academic qualification
Recognition of the academic institutions
Professional code of conduct
Business Enterprises
Sole business concern
Partnership business organization
Company
Private Limited
Public Limites
Labor Act 2048
have some special law regarding labor in the construction industry
terminologies
Production Process
Enterprise
with 10 or more staff
Seasonal Enterprise
operate less than 180 days per year
Employee
person engaged in the administrative functions of the enterprises
Workers
employed on the basis of salary or wage to work in building
Child, Minor, Major
Child - less than 14 years
Minor - between 14 and 18 years
Major - 18 years and above
Proprietor
person having final authority on activities of the enterprise