Legal Environment for Business in Nepal

26 September 2016

Saroj Shrestha 1

.

Saroj Shrestha 2

• Law is an instrument to regulate the society.

• Law is a command of Sovereignty back by sanction.

• Law is the body of Principles recognized and applied by the state in administration of justice.

• Law is that what the justice says in his decision

3

4

Rule made by authority for the proper regulation of a community or society for correct conduct in life.

Law is like a language it changes depending upon time.

“Law is that which must be obeyed and followed by citizens subject to sanction and legal consequences” (Black’s Law Dictionary)

• Equal treatment: Law treats all equally.• Enactment of law: Law is enacted by

Sovereign• Power: Law has ultimate power behind it.• Justice: Law creates Justice.• Positive law: No one is above law.• Status of usage: Any usage and tradition• Role of law: Law imparts justice, maintain

peace and harmony• Administration of law: The Court

administers the law.Saroj Shrestha 5

Business law has a vital role in creating, developing, conducting, regulation, controlling, enhancing and systemizing the business activities.

Business law is designed for conducting business activities in a systematic channel.

Also known as Trade law, Commercial law, Mercantile laws deals with business activities.

The law relates to subject matters e.g. relating to industry, trade and commerce.

6

No economic status of the people can be sound and no economy of a country can take motion without a good business law.

Business law should be enacted or amended according to the pace of time and country’s situation.

Without this law no such activities can be run smoothly.

Business law provides legitimacy, security, control and incentives to business activities. Protects rights and interests of consumers, labour, business and society.

7

Means of maintaining peace and order Creation of good environment Encouragement and inducement Awareness for rights and caution to

obligation Protection of rights and interests Settlement of dispute Guidance Economic Development

8

Constitution : Constitution of Nepal 2072 Acts: Contract, Company, FERA, Labour Ordinance: Executives/Decree or law

promulgated by a state or national government without the consent of the legislature

Precedents: Supreme Court decisions Regulations: Executive Directives: GoN. Circulars: Department/ Ministry/ Authorities Bye-Laws: Organization/Company/ Authorities

9

10Saroj Shrestha

If you have any questions or concerns, please discuss ..

Thank you !