Every country, state or city has its own set of laws. However, there are certain fundamental principles on which laws are enacted. This page contains principle laws generally applicable in all countries. The title and exact provision may be different but basic principles are same.
Law Relating to Business Structures
These laws define basic constitution of an organisation and relationship between its members.
- Companies/ Corporations
- Statutory Bodies
Law Relating to Business Dealings
These laws define specific obligations and relationships between various persons.
- Creditors (Loans)
- Community & Environment
Industry Specific Laws
These laws define specific provisions relating to specific trades and industries.
- Food Products
- Financial Services, Banking & Insurance
- Electronic Items
- Power & Utilities
These laws define procedures, evidences and dispute resolution mechanism.
- Contracts, Deeds & Instruments
- Court Procedures & Evidences
- Arbitration & Conciliation
- Use of Information Technology
These laws require you to do or not to do certain things. These are explained below:
- Register your constitution, bye-laws and corporate information with notified authority
- Maintain certain records (registers, documents, files, etc.)
- File certain information with notified authority (returns)
- Disclose or keep secret certain information as prescribed
- Deposit certain amounts/ properties/ guarantees (taxes, cess, etc.)
- Pay certain fees to notified authorities (registration fee, filing fee, etc.)
- Take or not to take certain actions (appoint directors, hold meetings, etc.)
If you are not able comply with these requirements, then recourse, penalties and prosecution procedures are also given in same or some other special law.
Therefore when you start a new enterprise please inquire about all compliances that may be applicable. You may consult legal professional in your local area.