Section 56
License To Be Obtained To Carry On Securities Business
(1) A company or body desirous of carrying on securities business has to obtain a license to carry on securities business from the Board pursuant to this Act. (2) No one shall carry on securities business without obtaining a license to carry on securities business from the Board pursuant to this Act.
Securities Act, 2063 (2007)
Chapter - 2
Section 3: Establishment Of BoardSection 4: Board To Be An Autonomous And Body CorporateSection 5: Functions, Duties And Powers Of The BoardSection 6: Meeting And Decision Of BoardSection 7: Appointment Of ChairpersonSection 8: Functions, Duties And Powers Of The ChairpersonSection 9: Remuneration, Meeting Allowance And Other Facilities Of Chairperson And MemberSection 10: Qualification Of Chairperson And MemberSection 11: Disqualification Of Chairperson And MemberSection 12: Circumstances On Which A Chairperson And A Member May Be Removed From OfficeSection 13: Resignation Of Chairperson And MemberSection 14: Fulfillment Of VacancySection 15: Proceeding Not To Be InvalidSection 16: Powers To Form Committee Or Sub-committeeSection 17: Delegation Of PowersSection 18: Requirement Of Disclosure In Regard To Conflict Of InterestSection 19: Provisions Relating To Accounts Experts, Advisors And EmployeesSection 20: To Take OathSection 21: SecrecySection 22: Fund Of BoardSection 23: Provision Of Revolving FundSection 24: Accounts Of BoardSection 25: Auditor And AuditSection 26: Annual Report
Chapter - 3
Section 27: Registration Of SecuritiesSection 28: Sale And Transfer Of SecuritiesSection 29: Securities To Be Issued PubliclySection 30: Prospectus To Be PublishedSection 31: Approval Of A ProspectusSection 32: Matters To Be Referred To In ProspectusSection 33: Liability For Matters Referred To In ProspectusSection 34: A Body Corporate To Make A NoticeSection 35: Compensation For Revocation Of Enlisting, If Any
Chapter - 4
Section 36: License To Be Obtained To Operate Stock ExchangeSection 37: Application To Be Made To Carry On Stock ExchangeSection 38: Issue Of A License To Carry On Stock ExchangeSection 39: The Board May Specify TermsSection 40: Power To Refuse To Issue License To Carry On Stock ExchangeSection 41: Minimum Capital And Financial SourceSection 42: Validity Period And Renewal Of A License To Carry On Stock ExchangeSection 43: Transactions Of Recognized SecuritiesSection 44: Managerial Responsibility Of Stock ExchangeSection 45: Functions, Duties And Powers Of Stock ExchangeSection 46: Disclosure To Be Made By Stock ExchangeSection 47: Stock Exchange To Submit A ReportSection 48: Stock Exchange To Issue DirectionSection 49: Ceiling Of Securities Transactions May Be FixedSection 50: Charge To Be Paid By Stock ExchangeSection 51: Stock Exchange To Assist BoardSection 52: Information Of Action To Be GivenSection 53: Stock Exchange To Provide For Compensation FundSection 54: Provisions Relating To Operation Of Compensation FundSection 55: Board To Make Provisions On Compensation
Chapter - 5
Section 56: License To Be Obtained To Carry On Securities BusinessSection 57: Application For License To Carry On Dealing In SecuritiesSection 58: A License To Carry On Securities Business To IssueSection 59: Board To Specify Terms And ConditionsSection 60: Power To Refuse To Issue A License To Carry On Securities BusinessSection 61: Validity And Renewal Of A License To Carry On Securities BusinessSection 62: Power To Prescribe For Carrying On Securities Business Through A Subsidiary CompanySection 63: Types Of Securities BusinessSection 64: License Not To Be Issued To Carry On Securities Business Without Specifying AgentSection 65: Formal AgentSection 66: Rights Of Securities Business PersonSection 67: Minimum Capital And Financial Source Of Securities Business PersonSection 68: To Maintain Records Of Securities Business PersonsSection 69: Records Of Formal AgentsSection 70: Information To Be Given
Chapter - 6
Section 71: No Collective Investment Scheme Shall Be Operated Without Obtaining A PermissionSection 72: Board To Grant Permission To Operate Collective Investment SchemeSection 73: Operation Of Collective Investment SchemeSection 74: Board May Revoke PermissionSection 75: Other Provisions Relation To Operation Of Collective Investment Schemes
Chapter - 7
Section 76: Business StandardsSection 77: Provisions Relating To Identification Of Investors, Purchase And Sale Order, Contract Note And Payment Of MoneySection 78: Accounts To Be Maintained By Securities Business PersonSection 79: Insurance To Be MadeSection 80: Auditor To Be AppointedSection 81: To Maintain Roster Of AuditorsSection 82: Submission Of Accounts And StatementsSection 83: Report To Be Made By Enlisted Auditor To Board
Chapter - 9
Section 91: Insider TradingSection 92: Persons Likely To Be Involved In Insider TradingSection 93: Information Or Notice Deemed To Have Been Made PublicSection 94: False TradingSection 95: Fluctuation In PriceSection 96: To Affect Stock ExchangeSection 97: To Supply Misleading StatementsSection 98: Fraudulent TransctionSection 99: Prohibition On Transaction Of Securities By Fraud Or MisrepresentationSection 100: Destroy Or Concealment Of Documents, Statements Or RecordsSection 101: PunishmentSection 102: Government Of Nepal To Be A PlaintiffSection 103: Investigation And Filing Of A CaseSection 104: Investigation May Be Conducted Upon Holding In Detention Or Suspension Or Release On BailSection 105: Compensation To Be PaidSection 106: AppealSection 107: Remedies Against Undue BiasSection 108: To Be Disqualified To Be A Director Or General Manager
Chapter - 10
Section 109: Provisions Relating To Take Over Of A Body Corporate Or Control Over Abody CorporateSection 110: A Body Corporate To Register The Transfer Of The Shares Certified By Thestock ExchangeSection 111: Transfer Of SecuritiesSection 112: Liaison With Government Of NepalSection 113: Government Of Nepal May Issue DirectionsSection 114: To Render AssistanceSection 115: Saving For The Act Done In Good FaithSection 116: Power To Frame RulesSection 117: Power To Frame Bye-lawsSection 118: To Frame And Enforce DirectivesSection 119: Effect Of Inoperativeness Of The Securities Ordinance, 2005