Library / Midstream Petroleum (Host Communities Development Trust) Regulations 2024

Midstream Petroleum (Host Communities Development Trust) Regulations 2024

Page 4 of 29

B  892
21. Host Communities Development Plan
22. Fund distribution matrix
PART V — ESTABLISHMENT AND MANAGEMENT OF THE HOST COMMUNITIES’
DEVELOPMENT TRUST FUND
23. Establishment of the Host Communities’ Development Trust Fund by
the licensee
24. Sources of the Fund
25. Allocation of fund
26. Utilisation of the Fund
27. Withdrawals from the Fund
28. Reduction of administrative cost
29. Management of the Capital Fund and the Administrative Cost Fund
30. Management of the Reserve Fund
31. Annual report on the Fund
32. Appointment of the Fund Manager
33. Duties of the Fund Manager
34. Cessation of office of the Fund Manager
PART VI — INVESTMENT OF THE RESERVE FUND AND REPORTING OBLIGATIONS
35. Criteria for investment in securities
36. Reports
PART VII — MISCELLANEOUS PROVISIONS
37. Contravention of these Regulations
38. Vandalism
39. Cessation of licensee’s interest
40. Grievance mechanism and conflict resolution procedure
41. Transfer of existing Host Communities’ Development projects and
schemes
42. Exemptions
43. Authority to make guidelines, etc
44. Interpretation
45. Citation