2. Definitions: Unless the subject or context otherwise requires, in this Act –
(a) “Enterprise” means a company, corporate body, industry or any other institution wholly or partly owned by Government of Nepal  and this expression shall also include other company, corporate body, industry or any other institution under the control or ownership of such company, corporate body, industry or any other institution.
(b) “Privatization” means involving private sector in the management, or to sell or lease it , or to transfer government
ownership into public ownership, or an act to infuse participation by any means, either wholly or partly, of private sector or of the employees or workers, or of all interested groups.
(c) “Government Sector” means the sector wherein Government of Nepal has directs, or indirectly whole or partial ownership in or has control over the management of any Enterprise.
(d) “Private Sector” means the sector other than the Government Sector.
(e) “Committee” means the Privatization Committee constituted pursuant to Section 3.
(F) “Prescribed” or “as prescribed” means prescribed by or as prescribed in the Rules made under this Act.