Kathmandu (Nepal), Oct 9 (ANI): The Nepal Parliament will elect country's third President and Vice-President within one month after the completion of two-tier election of Provincial and House of Representative. The Legislature Parliament of Nepal on Sunday passed the bill concerning the election of President and Vice-President. The newly endorsed bill has an age limitation of not less than 45 years and naturalized Nepali citizenship to stand for the election. It has also prohibited the people who are accused and jailed for more than 20 years in corruption. The candidate can file the nominations free of cost but will need five supporters and five proposers. The bill also allowed anyone out of the Parliament or any state assemblies to stand in fray for the post and has also erased the provision of security deposit of Rs. 1 lakh and 75 thousand. As per the new bill, a total of 884, including 275 from House of Representatives, 59 National Assembly and 50 members from the Provincial council, will vote to elect the new state and deputy state heads.The bill does not allow the same gender or same ethnic community to stand for the post of state head.