(1) There shall be a Chief Executive Officer to conduct the day-to-day administration and work of the Board.
(2) The Chief Executive Officer shall be the Chief Administrative Officer working full time in the Board and his remuneration and other benefits shall be as prescribed by the Government of Nepal.
(3) At least master's degree in economics, management, commerce, law, engineering or development-related subjects from a recognized educational institution and in the field of project development, public procurement, public-private partnership, investment promotion, development administration, banking, financial sector, industrial management A Nepali citizen who has at least ten years of managerial experience will be considered eligible to be appointed to the position of Chief Executive Officer.
(4) The following persons shall not be eligible for appointment to the post of Chief Executive Officer of the Board:-
(a) Convicted by a court of any criminal charge of moral turpitude such as corruption, theft, human trafficking and trafficking, coercion,
(b) throughout the period of being blacklisted as per prevailing law,
(c) Not having completed the age of thirty-five years,
(d) Exceeding the age of sixty-five years.
(5) To recommend the appointment of the Chief Executive Officer to the Government of Nepal, there will be a three-member recommendation committee consisting of the Vice Chairman of the National Planning Commission and subject experts designated by the Government of Nepal under the coordination of the Vice Chairman of the Board.
(6) The committee as per sub-section (5) shall recommend the names of three persons for the appointment of the Chief Executive Officer after completing the prescribed procedure on the basis of competition.
(7) One of the persons recommended under sub-section (6) shall be appointed by the Government of Nepal, Council of Ministers to the post of Chief Executive Officer.
(8) The term of office of the Chief Executive Officer shall be four years and he may be re-appointed for one more term.
(9) The post of Chief Executive Officer shall be vacant in the following cases:-
(a) In case of disqualification under sub-section (4),
(b) His resignation from his position through the board from the Government of Nepal, Council of MinistersIf approved,
(c) If he is removed by the Cabinet of Ministers of the Government of Nepal due to lack of efficiency, bad conduct or his level of performance is not satisfactory,
(d) If his term of office is completed,
(e) In case of his death,
(f) If the age of sixty-five years is completed.
(10) He shall be given an opportunity to submit his explanation before removal in accordance with clause (b) of sub-section (9).
(11) During the period of five years from the date of appointment to the Chief Executive Officer and the expiry of the term of office, he shall not be allowed to be involved in the project for which investment approval has been granted by giving a permit in accordance with this Act.