Library / Page 1 of 35 MIDSTREAM PETROLEUM HOST COMMUNITIES DEVELOPMENT TRUST REGULATIONS, 2024

Page 1 of 35 MIDSTREAM PETROLEUM HOST COMMUNITIES DEVELOPMENT TRUST REGULATIONS, 2024

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21. The Host Communities Development Plan 
22. Fund Distribution Matrix  
PART V - ESTABLISHMENT AND MANAGEMENT OF THE HOST 
COMMUNITIES DEVELOPMENT TRUST  
23. Establishment of the Host Communities Development Trust Fund by a 
licensee 
24. Contribution to the Fund  
25. Allocation of Fund 
26. Utilisation of the Fund 
27. Withdrawals from the Fund 
28. Reduction of administrative costs  
29. Management of the Capital Fund and the Administrative Cost Fund 
30. Management of the Reserve Fund 
31. Oversight powers of the Authority over 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. Offences,  
38. Vandalism 
39. Cessation of licensee’s interests 
40. Grievance mechanism and conflict resolution procedure 
41. Transfer of existing host community development projects and 
schemes 
42. Authority to make Guidelines, etc 
43. Interpretation 
44. Citation