PETROLEUM INDUSTRY ACT, 2021

Section 243: Duties and functions of the Board of Trustees.

2021Section 243 of 320Federal Republic of Nigeria

The Board of Trustees shall be responsible for the general management of the host communities development trust and shall be responsible for —
a determining the criteria, process and proportion of the host communities development trust fund to be allotted to specific development programs;
b approving the projects for which the host communities development trust fund shall be utilised;
c providing general oversight of the projects for which the host communities development trust fund shall be utilised;
d approving the appointment of fund managers for purposes of managing the reserve fund;
e set up the management committee of the host communities development trust and appoint its members; and
f determining the allocation of funds to host communities based on the matrix provided by the settlor.

Cite this section

Section 243, PETROLEUM INDUSTRY ACT, 2021 (2021).

https://repo.podus.ai/laws/petroleum-industry-act-2021/section/243/