(1) There shall be a Board of Directors having at least nine directors in the Trust.
(2) The following Directors shall remain in the Committee pursuant to Sub-section (1):
(a) A person nominated from Nepal Government Director
(b) A person nominated from Nepal Rastra Bank Director
(c) A person nominated from Nepal Stock Exchange Ltd Director
(d) A person nominated or elected from amongst Director
(e) A person elected from amongst the public shareholders Director
(f) Three persons nominated by Government of Nepal from amongst the individuals having special knowledge and experience in field of Industry Trade or Capital market or from amongst the investors Director
(g) Executive Director of the Trust Director
(3) Government of Nepal shall designate the Chairperson from amongst the Directors nominated or elected pursuant to Sub -Section (2)
(4) Officer staff of the Trust designated by the Committee shall function as a Secretary of the Trust.
(5) Tenure of Directors shall be Five years and they may be re- nominated or elected as the case may be.
(6) Notwithstanding anything contained elsewhere in this Section, Government of Nepal or Concerned Institution may change the Directors nominated pursuant to Sub Section (2) at any time.
(7) In case any post of Director falls vacant before completing the tenure, the post shall be fulfilled for the residual period following the same process which was initially followed to fulfill.
(8) Notwithstanding anything contained elsewhere in this Section, Government of Nepal, by publishing a Notification in the Nepal Gazette, may change the number of the Directors to be elected from amongst the shareholders, as per the necessity, in case any change has been made in the share capital of the Trust pursuant to Section 5.