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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Page 6 of 35 6. (1) An area of operation shall be a territory within the boundary of the area to which a licence relates, and any area which hosts designated facilities used in midstream petroleum operations in accordance with the provisions of section 318 of the Act. (2) The Authority shall set criteria for the licensee to determine what constitutes an area of operation provided that in determining the area of operation, the licensee shall take into consideration its operational activities and impact on communities in the area of operation. (3) A host community which is a beneficiary of the trust shall not be excluded by the licensee or Authority from a trust except in the following circumstances – (a) where the boundary of the operational area changes, such that a community previously selected as a beneficiary is no longer within the operational area of the retained area of the licence; or (b) where a court of competent jurisdiction has by a final judgment, determined that a community previously selected as a host community, does not qualify as a host community under the Act, these Regulations or any other law in force. Determination of area of operation and host community PART III-HOST COMMUNITY DEVELOPMENT TRUST 7. A licensee shall, prior to a registration of a trust at the Corporate Affairs Commission, submit to the Authority for approval, the following documents in relation to the trust to be registered – (a) a copy of the proposed constitution of the trust to be registered, which shall comply with sections 239(1), 239(2), 240(1), 241, 242(1), 247(1), 249(1), 254 and 255 of the Act and section 827 of the Companies and Allied Matters Act; (b) the details of the proposed trustees of the trust, intended to form the Board of Trustees as stipulated in these Regulations; (c) the criteria for the selection of the trustees, in accordance with these Regulations; Pre-approval of Host Community Development Trust registration by the Authority
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