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

Page 32 of 35
 
 
 
 
Page 32 of 35 
 
 
(9) Any settlement reached between the parties pursuant to the 
mediation and duly signed by disputing parties or their 
representatives shall be final and binding. 
 
(10) 
Where the Authority is unable to resolve the dispute within 45 
days of the dispute being referred to it, the Authority may refer the 
dispute to an Arbitrator appointed by the Centre in accordance 
with the Arbitration and Mediation Act 2023, and the Midstream and 
Downstream Alternative Dispute Resolution Regulations 2023. 
 
(11) 
The costs of the Authority’s appointed mediator or Arbitrator 
shall be borne by the fund. 
 
41. (1) Prior to the incorporation of a host community development trust 
pursuant to section 235(1) of the Act, the licensee shall make 
arrangements for the effective transfer of existing host community 
development projects and schemes to the trust fund, and upon the 
establishment of the trust and Fund- 
(a) 
select and transfer all the communities under any of its 
existing memorandums of understanding or any other agreements, 
community development programmes and corporate social 
responsibility schemes as host communities’ beneficiaries under the 
applicable trust fund to be established pursuant to the Act;  
(b) 
transfer any money accrued in any account as its annual 
payment obligation under such arrangements to the host community 
trust fund.  
(c) 
transfer all investable instruments under any existing 
memorandums of understanding or any other agreement to the 
reserve fund under management by a trust fund established pursuant 
to this Act.  
(d) 
transfer all development projects, schemes, assets and 
liabilities under any existing memorandums of understanding or any 
other agreement to the host communities development trust fund; 
(e) 
ensure the continued execution of all development projects 
or schemes by the trust fund; and 
(f) in consultation with the host communities under existing 
memorandums of understanding and any other agreement ensure 
that they metamorphose in conformity with the provisions of the Act.  
 
Transfer of existing 
Host community 
development 
projects and 
schemes