Kathmandu, March 14:
The Legislature-Parliament today endorsed the Company (first amendment) Act-2073 BS.
Prior to this, Minister for Industry Nabindra Raj Joshi tabled a proposal at the meeting, seeking discussions on the bill with the attachment of a report of Industry, Commerce and Consumer Welfare Committee to it.
In his response to issues raised during the discussions, Minister said the bill incorporated the provision of scrapping the registration of those companies that are not in operation. It has ensured the online registration of industries and payment.
Besides, the telecommunications companies having more than Rs 50 million investment shall be transformed into a public company and at least one woman member should be on the board of directors of such companies.
The amendment to the Act will help create atmosphere to investment.
In the discussion, lawmaker Prem Suwal insisted on a policy of State intervention to utilise the increasing privatization to the interests of the people.