(1) In order to select a suitable candidate for the appointment of the executive head and recommend a name, the recommendation committee according to sub-section (4) of section 13 of the Act shall give a deadline of at least fifteen days and publish a notice for the competition of the candidates in at least three daily newspapers of the national level.
(2) In addition to other things, in the notification according to sub-rule (1), proposals should be invited from potential candidates to submit the work plan of the executive head and the corresponding candidate to the office of the executive head within his term of office.
(3) In case the proposal is invited according to sub-rule (2), if the potential candidate is recommended for his selection and appointed, he should submit the application to the secretariat of the recommendation committee in the format as per Schedule-7, along with the proposal of the strategy and action plan to be implemented. (a) Details of his qualifications as per sub-section (3) of section 13 of the Act,
(b) Details of work experience acquired by him,
(c) his personal details.
(4) While submitting a proposal in accordance with sub-rule (3), the prospective candidate shall mention the following in his proposal:-
(a) The overall contribution that can be made while performing the duties as the executive head in accordance with the purpose of the Act and its concept,
(b) Format of business program, plan and action plan of investment board,
(c) formulating a strategy to advance the Investment Board in accordance with the objectives of the Act,
(d) The basis of his claim to the position of chief executive, the reliable basis for carrying out the work and its confirmation.
(5) The evaluation of the proposals submitted in accordance with sub-rules (3) and (4) shall be done by the recommendation committee itself or by an expert committee consisting of at least three experts appointed by the recommendation committee.
(6) The committee shall list the names of at least three candidates who are found to be suitable according to merit (order of merit) during evaluation according to sub-rule (5).
(7) Listed under sub-rule (6).If the candidates have formed a recommendation committee and an expert committee according to sub-rule (5), they should present the matter as per clause (b) of sub-rule (4) before such committee.
(8) In addition to the presentation as per sub-rule (7), the recommendation committee or the expert committee shall hold a strategic discussion with the relevant candidate or conduct an interview with him.
(9) The recommendation committee will submit a recommendation to the Government of Nepal and the Council of Ministers for the appointment of the three candidates who are most suitable after the presentation as per sub-rule (7) and the discussion and interview as per sub-rule (8).
(10) When recommending candidates according to sub-rule (9), the recommendation committee shall evaluate and recommend based on the following weightage:-
(a) Qualification and experience of the candidate – 15 marks
(b) Format of proposed professional program, plan and action plan – 50 marks
(c) Strategic discussion or interview or both – 25 marks
(d) candidate's ethics, reputation and personality in the society – 10 marks
(11) The recommendation committee will select the candidates on the basis of consensus as far as possible and if consensus cannot be reached, it will select and recommend the candidates by a majority of at least two members.
(12) Notwithstanding anything else written in this rule, if the number of candidates who have applied as per sub-rule (3) or who have been listed as per sub-rule (6) or who have been evaluated as per sub-rule (9) is less than three, the entire procedure related to candidate selection shall be canceled and the sub-rule According to (1), the notice should be published again.
(13) Other procedures to be adopted by the recommendation committee in relation to the selection of candidates for the executive head shall be as determined by the committee itself.
(14) The Economic and Infrastructure Development Division of the Office of the Prime Minister and Council of Ministers will act as the secretariat of the recommendation committee.
(15) The Executive Chief who is in place at the time of commencement of this regulation shall be deemed to have been appointed in accordance with this regulation.