Nay Pyi Taw, Mar 1 (IANS): Myanmar's union parliament on Tuesday reset March 10 instead of March 17 for presidential run.

Of the last three candidates nominated respectively from the group of elected House of Representatives (Lower House), the group of elected House of Nationalities (Upper House) and the group from military-nominated representatives, the one who wins the most number of votes will take the presidential seat, while the other two will be vice presidents, Xinhua news agency reported.

The nomination list will be forwarded to the speaker of the union parliament.

The presidential election will be followed by the formation of new government and power transfer to the new head of state on March 31 when the current government term expires.

The newly-elected union parliament started its first session on February 8.

Myanmar held a general election to elect parliament representatives on November 8, 2015, in which the ruling party National League for Democracy (NLD) won the absolute majority of parliamentary seats, which is strong enough for it to form a new government independently under the constitution and nominate the president and two vice presidents.