Legal Environment for Business in Nepal 12 February 2017

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Presentation transcript:

Legal Environment for Business in Nepal 12 February 2017 Law & Business Law Legal Environment for Business in Nepal 12 February 2017 Saroj Shrestha

Law . Saroj Shrestha

Law 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

Law… Law is like a language it changes depending upon time. 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)

Salient Features of Law 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

Business Law 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.

Business Law 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.

Important of Business Law 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

Some legal terminologies 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

If you have any questions or concerns, please discuss .. Thank you ! Saroj Shrestha

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