Library / Page 1 of 8 MIDSTREAM AND DOWNSTREAM PETROLEUM DISPOSAL OF CONFISCATED MATERIALS AND EQUIPMENT REGULATIONS, 2023

Page 1 of 8 MIDSTREAM AND DOWNSTREAM PETROLEUM DISPOSAL OF CONFISCATED MATERIALS AND EQUIPMENT REGULATIONS, 2023

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(3) Within 30 days of the commencement of these Regulations, the 
Authority shall cause to be opened a Register of Confiscated 
Materials and Equipment wherein a record of all confiscated 
materials and equipment existing prior to the commencement of 
these Regulations shall be kept. 
 
(4) Upon opening the Register as in sub-regulation 4(3), any material 
or equipment confiscated by the Authority pursuant to its powers 
under the Act, shall be recorded in Register within 5 days of 
confiscation. 
 
(5) The following information shall be recorded in the Register in 
respect of each confiscated material or equipment: 
(a) Date of confiscation. 
(b) Property description for ease of identification. 
(c) Category of property (whether fixture or fittings). 
(d) Reason for confiscation. 
(e) Location of property. 
(f) 
Unique identification code. 
 
(6) Once an identification code has been assigned to a property in 
custody of the Authority, no change shall be made during the life 
of the property while in custody of the Authority for any purpose 
whatsoever. The identification code may be removed from the 
property only after it is sold, scrapped, or otherwise disposed of. 
 
(7) The Authority shall take periodic inventory of the Register at the 
end of every quarter and the result of the physical count of the 
properties shall be reconciled with the records in the Register. 
 
(8) Where the result of an inventory reveals any form of discrepancy 
or where a determination has been made that a confiscated 
property has been lost or stolen, the Authority shall take the 
following steps: 
(a) In the case of inaccurate recording of confiscated property 
in the Register, the Authority shall investigate the matter 
before amending the Register. 
(b) In the case of loss or theft of a confiscated property, the 
Authority shall cause a thorough investigation with a view to