July 23- KATHMANDU: Nepal Stock Exchange (Nepse) has directed all listed companies, stockbrokers and share registrars to complete the process
of transferring ownership of stocks within 15 days of receiving ownership transfer application.
The directive was issued after the Commission for Investigation of Abuse of Authority instructed Nepse to ensure ownerships of shares are transferred within 15 days and monitor the process on a regular basis.
The Companies Act 2006 says that ownership of shares has to be transferred to the buyer within 15 days of filing application for transfer of share ownership.
"Nepse requests all listed companies, stockbrokers and share registrars to adhere to the Companies Act and complete ownership transfer process within 15 days. Else, necessary action will have to be taken," says a statement issued today by Nepse.