(1) Prior to transfer of the establishment to be privatized to the private sector according to this Act, the conditions to be followed by both parties should be clearly disclosed and agreed upon. But there is no need to enter into any agreement when selling shares openly to the public, employees of the establishment to be privatized, workers and the private sector through the capital market or any other means.
(2) The terms of payment to be received by the Government of Nepal after privatization shall be clearly mentioned in the agreement made in accordance with sub-section (1).
(3) In the agreement to be made according to sub-section (1), the time period for the transfer of the establishment from the Government of Nepal to the private sector and other conditions to be kept by the Government of Nepal should also be clearly mentioned.
(4) According to sub-section (1), within one month from the date of the privatization agreement, the conditions and brief details mentioned in such agreement shall be published for the information of the general public.