Section 20
General Meeting
(1) A general meeting (hereinafter referred to as the annual general meeting) shall be held at the head office of the Corporation
in each year within Two months after the date of closure of annual accounts of the Corporation, following the sale of shares of at least Five percent
value of the share capital issued by the Corporation for sale to the general people. If at least Fifty shareholders make an application in writing or the
Board considers necessary so to do, the extra-ordinary general meeting of the Corporation shall be held at any other time.
(2) If at least 100 (One Hundred) shareholders does not attend a general meeting convened for the first time, the quorum for the general
meeting shall not be deemed to have been constituted. A general meeting called for the second time upon not being attended by the quorum may be
deemed to be attended by the quorum if it is attended by 50 (Fifty) shareholders. Provided that if the general meeting called for the second
time is not even attended by a quorum as mentioned, a submission containing that matter shall be made to the Government of Nepal, and it
shall be done as sanctioned.
(3) The shareholders present at the annual general meeting shall discuss the annual accounts, profit and loss account, matters contained in
the auditor’s report in relation thereto and the Board’s report on the affairs of the Corporation carried out throughout the year. These matters shall be
submitted to the Government of Nepal until the provision of the annual general meeting is made.
(4) 30 A shareholder may cast vote at the rate of one vote for every one percent share of the total capital of the Corporation subscribed by the
shareholder. Provided that:
(a) No shareholder who has subscribed shares less than One percent of the total capital of the Corporation shall
be entitled to case vote.
(b) If the share percentage is more than One unit, the shareholder shall be entitled to cast vote only equal to
the lower unit until the higher unit is achieved.
(4a) 31 No shareholder may exercise vote without being present at a annual general meeting in person or by proxy.
(5) Any decision at the general meeting shall be made by a simple majority of the shareholders and proxies attending and voting thereat.
in each year within Two months after the date of closure of annual accounts of the Corporation, following the sale of shares of at least Five percent
value of the share capital issued by the Corporation for sale to the general people. If at least Fifty shareholders make an application in writing or the
Board considers necessary so to do, the extra-ordinary general meeting of the Corporation shall be held at any other time.
(2) If at least 100 (One Hundred) shareholders does not attend a general meeting convened for the first time, the quorum for the general
meeting shall not be deemed to have been constituted. A general meeting called for the second time upon not being attended by the quorum may be
deemed to be attended by the quorum if it is attended by 50 (Fifty) shareholders. Provided that if the general meeting called for the second
time is not even attended by a quorum as mentioned, a submission containing that matter shall be made to the Government of Nepal, and it
shall be done as sanctioned.
(3) The shareholders present at the annual general meeting shall discuss the annual accounts, profit and loss account, matters contained in
the auditor’s report in relation thereto and the Board’s report on the affairs of the Corporation carried out throughout the year. These matters shall be
submitted to the Government of Nepal until the provision of the annual general meeting is made.
(4) 30 A shareholder may cast vote at the rate of one vote for every one percent share of the total capital of the Corporation subscribed by the
shareholder. Provided that:
(a) No shareholder who has subscribed shares less than One percent of the total capital of the Corporation shall
be entitled to case vote.
(b) If the share percentage is more than One unit, the shareholder shall be entitled to cast vote only equal to
the lower unit until the higher unit is achieved.
(4a) 31 No shareholder may exercise vote without being present at a annual general meeting in person or by proxy.
(5) Any decision at the general meeting shall be made by a simple majority of the shareholders and proxies attending and voting thereat.