(1) 37 The Government of Nepal shall appoint as the administrator any one depositor (Sanchayakarta) employee serving in the First Class of the Government of Nepal, officer first class or the
tenth class of the Fund or institution or a class equivalent thereto in order to perform the daily functions in the capacity of the administrative chief of the Fund.
(2) 38 The term of office of the administrator appointed pursuant to Sub-section (1) shall be Five years and he or she shall hold office at the pleasure of the Government of Nepal.
(3) The remuneration, facilities and other conditions of service of the administrator shall be as prescribed.