In 2000 at the inception of the 9th FYP, the Department of Industry initiated the establishment of the Company Registry. Until 2009 this Office functioned as a Unit under the Department and it was supervised directly by the Director General, Department of Industry. The Office was structurally under the Industrial Monitoring & Licensing Division, Department of Industry, but it operated independentl
y of the division and reported directly to the Director General, Department of Industry. In keeping with provisions of Companies Act, 2000; one Registrar and two Assistant Registrars of Companies were appointed to enforce the Companies Act of the Kingdom of Bhutan in 2009 coinciding with first year of 10th FYP. Today, the Company Registry has successfully streamlined and established a system of enforcement of the Companies Act of Bhutan. Programmes such as awareness workshops and trainings, reviews meetings, inspection reviews were initiated and successfully completed annually till date. The Office is now a Statutory Regulatory Authority under Chapter 14 of Companies act, 2016 with the following powers and functions:
Primarily responsible for incorporation or registration of corporate entities and supervision of all corporate entities including listed companies and entities created under Royal Charter and Special Laws. To issue directives, rules and Regulations on all matters covered under this Act, and any other related laws in the area of corporate regulation, capital market supervision and securities. Make provisions for the resolution of disputes within or between companies in relation to the provisions of this Act or regulations hereunder. To formulate Corporate Governance Code for all corporate entities in Bhutan. It has to constitute a Dispute settlement body to hear cases related to violations of Companies law, securities regulations and related code of conducts by regulated entities where offence does not consist of penal sanctions. It should monitor and regulate minority interest violations and adjudicate upon derivatives proceedings against company management. It also regulates securities in the primary market of the Capital Market. To advise the government on matter covered under Companies Act or any law to be enforced by the Regulatory Authority. It can levy fees in respect of any matters covered under Companies Act and services provided to all companies.
