4.6 Nepalese Legal Provisions

The 2063 regime's mapping (by name-and-effect): the Securities Act's prospectus-approval-and- liability provisions; the issue-approval byelaw's content requirements (the application's annexures: the financials, the valuation, the underwriting, the credit rating — Unit 8.2's gate); the listing-and-disclosure directives (SEBON's circulars to the listed companies — the reporting formats-and-timelines); the Companies Act's-and-OCR's filing layer (the annual accounts' registry); and the practice's audit: the chronic gaps (the late filings' tolerance, the boilerplate risk-factors, the related-party disclosure's thinness, the family-companies' disclosure culture's resistance) — the honest exam note: the regime exists; the compliance's soul is still being built.