11. Executive Director:

(1) There will be one executive director to perform the work as the administrative head of the fund.
(2) To recommend the appointment of the Executive Director, the committee will form a selection sub-committee consisting of three members.
(3) The sub-committee formed according to sub-rule (2) shall select three persons who have obtained at least a master's degree in economics, commerce, management, labor or law and who have at least seven years of work experience at the official level, selected through an open competition and submitted to the committee for appointment.

(4) From among the three persons selected according to sub-rule (3), the committee will appoint a suitable person as the executive director of the fund after evaluating the qualification, experience, ability to lead and the fund management and operation profile submitted by him.< br> (5) Notwithstanding anything written in sub-rules (2), (3) and (4), the Government of Nepal may appoint or depute any officer of the Government of Nepal of the first class gazetted to act as the Executive Director for a maximum period of one year until the appointment of the Executive Director.
(6) The tenure of the Executive Director shall be four years.
(7) The Committee may remove the Executive Director from his position in the following cases:-
(a) In case of lack of capacity to execute or carry out the tasks to be done according to this rule,
(b) In case of dishonesty or dishonesty in the operation of the Fund,
(c) fails to conduct himself in accordance with his position, or
(d) If he is unable to work according to the performance agreement or if his performance is not satisfactory.
(8) Before doing the work according to sub-rule (7), the committee may form a selection committee consisting of three members and remove the executive director from the position based on the report of that committee.
(9) The executive director shall not be allowed to participate or vote in the meeting of the committee to form the committee as per sub-rule (8).
(10) After the formation of the selection committee as per sub-rule (8), the executive director shall assume his positionYou will not be allowed to do it.
(11) The Executive Director shall not be deprived of a reasonable opportunity to present his explanation before being removed from office.
(12) The remuneration and other benefits of the executive director will be as determined by the committee with the approval of the Government of Nepal.