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