(1) In order to protect the interests of investors who invest in securities by developing the capital market, a board has been established under the name of Nepal Securities Board to regulate and manage the activities of persons involved in the securities market and securities business by organizing the issue, purchase, sale, distribution and exchange of securities. (2) The board to be established as per sub-section (1) shall have the following members:- (a) Person appointed by the Government of Nepal – Chairman (b) Joint Secretary, Ministry of Finance – Member (c) Joint Secretary, Law, Justice and Parliamentary Order Ministry - Member (d) representative, Nepal Rashtra Bank - Member (e) representative, Nepal Institute of Chartered Accountants - Member (f) representative, Federation of Nepal Chamber of Commerce and Industry - Member (g) in economics, management, finance, commerce or law One person nominated by the Government of Nepal from among the experts who have at least seven years of experience in the securities market, management, capital market development, financial or economic fields after obtaining at least a master's degree from a recognized university - member (3) Clauses (e) and (f) of sub-section (2) ) when nominating a representative, the concerned organization shall nominate a person who has at least a bachelor's degree and has at least seven years of working experience in accounting, industry, commerce, finance, banking, economics or law. (4) Clause (g) of sub-section (2) The term of office of the nominated member will be three years. (5) The work done by the board will not be affected just because the position of a member is vacant. (6) Any authorized employee of the board appointed by the board will act as the secretary of the board. Foreign experts and consultants may be invited to participate in the meetings of the board as observers. (8) The central office of the board will be in Kathmandu valley and the board may open branches or contact offices within or outside the state of Nepal as required.