: (1) A board of directors shall be formed to conduct, supervise and manage all the activities to be done by the fund in accordance with this act and the rules or regulations made under this act.
(2) The following members will be in the committee:-
(a) The Secretary of the Ministry or the official of the special category designated by the Government of Nepal - President
(b) Joint Secretary, Ministry of Finance – Member (c) Joint Secretary, Ministry of Law, Justice and Parliamentary Affairs – Member (d) Executive Director, Nepal Rastra Bank – Member (e) A person designated or nominated by the Ministry from among the persons who have worked in the second level position of the bank and financial sector for at least ten years - Member (f) A person appointed or nominated by the Ministry from among the persons who have acquired at least ten years of accounting work experience as a Chartered Accountant – Member (g) Chief Executive Officer – Member Secretary (3) The term of office of the members under clauses (e) and (f) of sub-section (2) shall be four years and they may be re-nominated or appointed for another term.
(4) Notwithstanding anything written in sub-section (3), if the performance of a member nominated or designated as per clause (e) or (f) of sub-section (2) is not satisfactory, the Ministry may remove him from office. will have to give