Search-cum-Selection Committee updates govern Director General appointment process and tighten eligibility and qualification criteria. A new Search-cum-Selection Committee-comprising the Commission Chairperson, a Joint Secretary-rank officer from the Ministry of Corporate Affairs, and a Central Government-nominated expert-will recommend a panel of up to three names; the Commission shall appoint the Director General from that panel with prior Central Government approval. The Schedule raises the post to a senior pay level, removes the previous probation entry, and restricts eligibility to government officers in analogous posts or with specified senior service, requiring integrity, outstanding ability, investigation experience and knowledge in accountancy, management, business, public administration, international trade, law or economics.