(1) Expiration of lease term according to sub-section (3B) of Section 5 of the Act: Early extension of the term: The party who wants to extend the term may submit an application to the Trust stating the reason and rationale for extending the term.
(2) If the committee receives an application as per sub-rule (1), the committee will make a recommendation to the Government of Nepal regarding the extension of the period under sub-section (3b) of section 5 of the Act, if it is ensured that the extension of the period will result in additional financial benefits to the trust.
(3) The Government of Nepal may extend the lease term based on the recommendation as per sub-rule (2).