(1) The work, duties and powers of the Committee shall be as follows:-
(a) To determine the amount of Treasury Bills to be issued, the time of issuance and the payment period, after making a determination of the amount of the national debt to be raised in each fiscal year by the Annual National Debt Collection Act.
(b) After determining the treasury bills to be issued according to clause (a), the bank shall call for bids for the sale of the treasury bills to be issued, first determine whether to sell at the price or at interest,
(c) To recommend to the Government of Nepal, the Ministry of Finance regarding the type, amount, time of issue, interest rate and payment period of all other bonds except treasury bills, (d) To carry out other necessary actions in relation to the bond.
(2) In relation to the execution of work, duties and rights as per sub-rule (1), the committee may form a sub-committee consisting of experts and technicians related to bonds as required. The work, duties, rights and procedures of the sub-committee formed in this way will be as prescribed by the committee.
(3) For participating in the meeting of the sub-committee constituted as per sub-rule (2), the members of that sub-committee shall receive meeting allowance as specified by the governor.