(1) The Government of Nepal may appoint or designate a person who meets the following qualifications as a fund manager:-
(A) At least ten years of experience in the field of insurance, reinsurance and claims after obtaining at least a bachelor's degree from a recognized educational institution.
(b) Thirty-five years of age and not exceeding sixty years of age.

However, until the appointment of the fund manager, a person appointed by the chairman from among the existing authorized employees of the insurance committee will act as the fund manager.
(2) The Fund Manager shall be the Chief Administrative Officer of the Secretariat. The fund manager will have all the rights and duties to implement the decisions of the board of directors and supervise and control the operations of the fund.
(3) The term of office of the fund manager shall be three years and he may be reappointed or appointed.
(4) The service, conditions and facilities of the fund manager shall be as prescribed by the Government of Nepal on the recommendation of the Insurance Committee.
(5) Notwithstanding anything written elsewhere in this rule, if the fund manager causes damage to the fund and takes any action that is contrary to the purpose of this rule and the interest of the fund, or if he does not perform the work in accordance with the policy instructions of the board of directors, the board of directors shall remove him from the position of fund manager by following the procedure prescribed by the insurance committee. can be removed. But the fund manager shall not be deprived of a reasonable opportunity to present his justification before being so removed from office.