Section 239: Objectives of host communities development trust.
1 The constitution of the host communities development trust shall allow the host communities development trust to manage and supervise the administration of the annual contribution of the settlor contemplated under this Chapter and any other sources of funding.
2 The objectives of the host communities development trust shall be specified in the constitution as set out in subsection (3) (a) to (e).
3 The objectives of the host communities development trust shall include, to —
a finance and execute projects for the benefit and sustainable development of the host communities;
b undertake infrastructural development of the host communities within the scope of funds available to the Board of Trustees for such purposes;
c facilitate economic empowerment opportunities in the host communities;
d advance and propagate educational development for the benefit of members of the host communities;
e support healthcare development for the host communities;
f support local initiatives within the host communities, which seek to enhance protection of the environment;
g support local initiatives within the host communities which seek to enhance security;
h invest part of available fund for and on behalf of the host communities; and
i assist in any other developmental purpose deemed beneficial to the host communities as may be determined by the Board of Trustees.
4 Notwithstanding the provisions of this Act relating to funding of the trust fund, nothing shall preclude the host communities from their entitlements under any other law.
Cite this section
Section 239, PETROLEUM INDUSTRY ACT, 2021 (2021).
https://repo.podus.ai/laws/petroleum-industry-act-2021/section/239/