(1) The Board of directors shall consist of eight directors, who shall be elected by the general meeting. One person chosen by the elected directors from among themselves shall be the Chairperson of the Board of Directors.
(2) Government of Nepal or any corporate body may nominate directors in proportion to the shares subscribed by it and the rights and liabilities of such
nominated directors shall be the same as those of elected directors.
♣ (3) Notwithstanding anything contained in Sub-Section (1) until arrangements are made for the election of directors by the general meeting, the
Board of Directors shall consist of the following members:
(a) Minister or Minister of state of water resources, or a person designated by
–
Chairperson
(b) Secretary, Ministry of Water Resources – Member
(c) Secretary, Ministry of Finance – Member
(d) A person nominated by Government of Nepal
from among persons engaged in the fields of
industry, commerce or finance
–
Member
(e) A person nominated by Government of Nepal from among consumers of electricity
–
Member
(f) Two person nominated by Government of Nepal from non-governmental persons specializing in the field of electricity
–
Member
(g) Executive Director, Authority – Member Secretary
♣ (4) The nominated members of the committee shall have a tenure of
four years.
Provided that, Government of Nepal may, if it becomes so necessary, remove such members before the expiry of their term or nominate other
persons to replace them.
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♣ Amended by First Amendment.
(5) The tenure of directors elected by the general meeting shall be four years, and they may be reelected as directors for a maximum of two
consecutive terms on the expiry of their four-year term.
Provided that, the tenure of four out of the eight directors elected for the
first time shall be fixed at two years by drawing lots.