After rule 8 of the original rules, the following rule 8A. Added:- “8a. Provisions related to Vice President: (1) There will be one Vice President in the Fund.
(2) The Government of Nepal, Council of Ministers shall appoint one of the persons recommended by the recommendation committee as per sub-rule (5) as the vice-chairman. (3) The vice-chairman shall be a full-time officer of the fund. (4) The vice-chairman Eligibility will be as follows :-
(a) Being a Nepali citizen,
(b) At least a master's degree in economics, management or commerce from a recognized educational institution,
(c) Not being a member of any political party,
(d) Forty-five years of age.

(5) There will be a recommendation committee as follows to make recommendations to the Government of Nepal for the appointment of the Vice President:-
(a) Vice-Chairman of the National Planning Commission – Coordinator
(b) Member of the National Planning Commission (looking after employment matters) -Member
(c) Secretary, Ministry of Finance - Member

(6) The recommendation committee as per sub-rule (5) shall recommend the names of three persons for the vice-chairman from among the persons who meet the qualifications as per sub-rule (4).

( 7) The term of office of the Vice President shall be two years at most and he may be reappointed.

(8) If the work of the Vice President is not satisfactory, the Government of Nepal may remove him at any time.

(9) Sub-rule ( 8) The Vice President shall be given an opportunity to submit his proof of integrity before being removed as per 8). , duties and rights will be as follows:-
(a) To execute the decision of the committee, to make,
(b) To approve the list of topics to be submitted in the meeting of the committee,
(c) To make the best use of the amount deposited in the fund,
(d) Coordinating with banks, financial institutions and other stakeholders.

(12) Notwithstanding anything else written in this rule, a person who has shown exceptional talent in civil life, clauses (b), (c) of sub-rule (4). And the Council of Ministers may appoint the Vice-President on the recommendation of the committee under sub-rule (5) so that the qualification of (d) does not apply.”