Section 15
Appointment Of The Governor
(1) Government of Nepal, the Council of Ministers shall appoint Governor on the basis of the recommendation of the Recommendation Committee formed pursuant to Sub-section (2).
(2) Government of Nepal, the Council of Ministers shall, for the appointment of Governor, form a Recommendation Committee as follows:-
(a) Minister of Finance -Chairperson
(b) One person from among the former Governors – Member
(c) One person designated by Government of Nepal from amongst the persons renowned in the fields of Economic, Monitory, Banking, Finance and Commercial Law. -Member
(3) While making recommendation for the appointment of Governor, the committee formed pursuant to Sub-section (2), shall recommend to Government of Nepal, the Council of Ministers the names of three persons renowned in the field of economic, monetary, banking, finance, commerce, management, commercial law and from among the Deputy Governors.
(4) Government of Nepal, the Council of Ministers shall, out of the names recommended pursuant to Sub-section (3), appoint one person to the Office of Governor.