CTEVT Directive: Non-Profit Educational Institutions Barred from Converting into Private Companies for Ownership Transfer
The Council for Technical Education and Vocational Training (CTEVT), Standards Determination and Affiliation Division, Sanothimi, Bhaktapur, has issued a strict directive to educational institutions registered and affiliated under non-profit status. Based on the Council’s decision dated 26 Bhadra 2083, CTEVT published a highly urgent notice on 2083.05.30, prohibiting such institutions from converting into private limited companies and transferring ownership.
Ownership Transfer and Share Transactions Prohibited
According to the notice, educational institutions registered under Section 4 of the Association Registration Act, 2034 as non-profit, service-oriented, social, community or public institutions, foundations, trusts, or similar entities, and operating with affiliation or approval from CTEVT, must comply with the directive.
Such institutions are not permitted to transfer the institution’s registration or ownership, or engage in the purchase and sale of shares, by registering another private limited company under a similar name without first updating and renewing their registration with the authority where they were originally registered.
Updated Documents Must Be Submitted Within 35 Days
The Council has instructed educational institutions to maintain the same legal status under which they originally obtained affiliation or approval when applying to CTEVT.
Institutions must update their registration with the relevant registering authority under that same status. The updated certificates must then be notarized and submitted to the Council office with authentic supporting evidence within 35 days from the date of publication of the notice.
Warning of Action and Cancellation of Affiliation
CTEVT has stated that institutions failing to update their details and submit official documents within the prescribed deadline will face action in accordance with prevailing law.
The notice also warns that institutions violating the directive may face proceedings leading to the cancellation of their affiliation or approval.
For further information or inquiries, the Council can be contacted by phone at 01-6630408 or by email at ctevtaccreditation061@gmail.com.
