Section 2
Definitions
2. Definitions: Unless the subject or context otherwise requires, in this Act:-
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It came into force on 18 Kartik 2054.
(a) “Industry” means any industry as referred to in Section 3 of the Industrial Enterprises Act, 2049 (1992).
(b) “Foreign Investment” means the following investment made by a foreign investor in any industry”
(1) Investment in Share (Equity)
(2) Reinvestment of the earnings derived from the investment as referred to in Sub-section (1) above,
(3) Investment made in the form of loan or loan facilities.
(c) “Technology Transfer” means any transfer of technology to be made under an agreement between an industry and a foreign investor on the following matters:
(1) Use of any technological right, specialization, formula, process, patent or technical know-how of foreign origin.
(2) Use of any trademark of foreign ownership.
(3) Acquiring any foreign technical, consultancy, management and marketing service.
(d) “Foreign Investor” means any foreign individual, firm, company or corporate body involved in foreign investment or technology transfer including foreign government or international agency.
(e) “Board” means the Industrial Promotion Board Constituted under Section 12 of the Industrial Enterprises Act, 1992.
(f) “Department” means the Department of Industries or Department of cottage and Small Industries of Government of Nepal or any other department office or agency as specified by Government of Nepal.
(g) “Prescribed” or “As prescribed” means prescribed or as prescribed in the Rules made under this Act or in an order issued by the Government of Nepal by notification published in Nepal Gazette.
♣ ————————————
It came into force on 18 Kartik 2054.
(a) “Industry” means any industry as referred to in Section 3 of the Industrial Enterprises Act, 2049 (1992).
(b) “Foreign Investment” means the following investment made by a foreign investor in any industry”
(1) Investment in Share (Equity)
(2) Reinvestment of the earnings derived from the investment as referred to in Sub-section (1) above,
(3) Investment made in the form of loan or loan facilities.
(c) “Technology Transfer” means any transfer of technology to be made under an agreement between an industry and a foreign investor on the following matters:
(1) Use of any technological right, specialization, formula, process, patent or technical know-how of foreign origin.
(2) Use of any trademark of foreign ownership.
(3) Acquiring any foreign technical, consultancy, management and marketing service.
(d) “Foreign Investor” means any foreign individual, firm, company or corporate body involved in foreign investment or technology transfer including foreign government or international agency.
(e) “Board” means the Industrial Promotion Board Constituted under Section 12 of the Industrial Enterprises Act, 1992.
(f) “Department” means the Department of Industries or Department of cottage and Small Industries of Government of Nepal or any other department office or agency as specified by Government of Nepal.
(g) “Prescribed” or “As prescribed” means prescribed or as prescribed in the Rules made under this Act or in an order issued by the Government of Nepal by notification published in Nepal Gazette.