Section 11
Agreement To Be Concluded For Privatization
11. Agreement to be Concluded for Privatization :
(1) Prior to handing over an enterprise, an agreement shall be entered into between the offerer and offeree specifying clearly the terms and conditions to be observed by both.
Provided, that no such agreement shall be required to be entered into where the shares are being sold in open market to the general public, employees, and workers of the enterprise and private sector through capital markets or
any others means.
(2) The terms of payment to Government of Nepal on account of the privatization shall be clearly spelled out in the agreement to be concluded pursuant to Sub-Section (1).
( 3) The time schedule for handing over of the enterprise by Government of Nepal to the buyer and other terms and conditions that Government of Nepal may wish to prescribe, in respect thereof, shall be clearly spelled out in the agreement to be concluded pursuant to Sub-Section (1).
(4) A brief note about the terms and conditions of the privatized enterprise shall be published within one month from the day of signing of the agreement, pursuant to Sub-Section (1) for information of the public.
(1) Prior to handing over an enterprise, an agreement shall be entered into between the offerer and offeree specifying clearly the terms and conditions to be observed by both.
Provided, that no such agreement shall be required to be entered into where the shares are being sold in open market to the general public, employees, and workers of the enterprise and private sector through capital markets or
any others means.
(2) The terms of payment to Government of Nepal on account of the privatization shall be clearly spelled out in the agreement to be concluded pursuant to Sub-Section (1).
( 3) The time schedule for handing over of the enterprise by Government of Nepal to the buyer and other terms and conditions that Government of Nepal may wish to prescribe, in respect thereof, shall be clearly spelled out in the agreement to be concluded pursuant to Sub-Section (1).
(4) A brief note about the terms and conditions of the privatized enterprise shall be published within one month from the day of signing of the agreement, pursuant to Sub-Section (1) for information of the public.