Library / Applicable to: MDGIF Project Promoters Equity Partners MDGIF INVESTMENT POLICY STATEMENT (MIPS) Code: MDGIF Guide 1001 - 2024

Applicable to: MDGIF Project Promoters Equity Partners MDGIF INVESTMENT POLICY STATEMENT (MIPS) Code: MDGIF Guide 1001 - 2024

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Applicable to:            MDGIF Project Promoters  
Equity Partners 
MDGIF INVESTMENT POLICY STATEMENT (MIPS) 
 
Code: MDGIF Guide 1001 - 2024 
 
Effective Date: 17th May 2024 
 
 
This document is a property of the Midstream and Downstream Gas Infrastructure Fund. All rights reserved. 
9 
2 INVESTMENT ROLES AND RESPONSIBILITIES 
The MIPS specifies the roles and responsibilities of the key parties with the relevant authority, 
skills and competencies for its implementation.  
It is important to specify the roles of all parties as fiduciaries to ensure operational efficiency, 
clear lines of authority and accountability in all aspects of operation or implementation of 
objectives of the MDGIF. 
2.1 
Governing Council 
a. The Fund’s Governing Council has ultimate responsibility for supervision and investment 
decision making for the Fund, pursuant to the Act.  
b. Operationally, in executing this mandate the Governing Council shall: 
i. 
Be the final approving authority for all decisions in respect of the Fund.  
ii. 
Approve all investment decisions of the Fund on proposed equity investment in 
midstream and downstream gas infrastructure projects. 
iii. 
Approve the Midstream and Downstream Gas Infrastructure Fund’s programme of 
action with its cost implications at the beginning of every financial year. 
iv. 
Approve the investment programs of unutilised funds in the Fund’s account as 
proposed by the Executive Director in line with MIPS. 
v. 
Approve the re-investment of interest and other incomes accruing from the equity 
investment of the Fund in other secured low risk investments;  
vi. 
Review the annual statement of the Fund prepared and submitted to it; 
vii. 
Review the certified annual audited accounts of the Fund, together with operational 
report of the Fund; and 
viii. 
 Do such other things as may be determined to be in furtherance of the objectives of 
the Fund. 
c. In executing above stated responsibilities, the Governing Council shall be supported in 
operating capacity by the Executive Director.  
2.2 
Executive Director, MDGIF 
a. The Executive Director is responsible for project management and administration of 
the Fund pursuant to the Act.  
b. The Executive Director shall be responsible for day-to-day operations and activities of