(1) For the day-to-day operations of the fund, the Government of Nepal must have a master's degree in economics, management, commerce or commercial law and at least fifteen years in the field of financial management. One executive director will be appointed from among the people with years of work experience.
(2) The term of office of the Executive Director shall be four years. The Government of Nepal can extend his tenure for another five years. However, the executive director who is in office at the time of commencement of this sub-section may remain in office for the duration of his appointment.
(2a) Notwithstanding anything written in sub-section (2), the Government of Nepal may remove the executive director from his position at any time if it is found that the fund has suffered any loss or the fund has not been able to resume its operations due to lack of efficiency, negligence or bad conduct or inactivity without performing satisfactory work. Before removing him from the position, he should be given a reasonable opportunity to come clean.
(3) The committee may appoint advisors, officers, and employees as needed for the smooth operation of the fund's operations.
(4) Qualifications, remuneration, facilities and other conditions of service of directors, advisers, officers and employees appointed in accordance with sub-sections (1) and (2) shall be as prescribed.