PETROLEUM INDUSTRY ACT, 2021

Section 247: Management committee, composition and powers.

2021Section 247 of 320Federal Republic of Nigeria

1 The constitution of the host communities development trust shall contain provisions requiring the Board of Trustees to set up a management committee for the host communities development trust.

2 The membership of the management committee shall comprise —
a one representative of each host community, who shall be nominated by the host community as a non-executive member; and
b executive members, selected by the Board of Trustees shall be Nigerians of high integrity and professional standing, and may not necessarily be members of the host communities.

3 A person appointed under subsection (2) (a) and (b) shall serve a term of four years in the first instance and may be reappointed for another term of four years ar.d no more.

4 The Board of Trustees shall in accordance with the host communities development trust determine —
a the selection process, procedure for meetings, financial regulations and administrative procedures of the management committee;
b the remuneration, discipline, qualification, disqualification, suspension and removal of members of the management committee; and
c any other matter relating to the operations and activities of the management committee.

5 The management committee shall have a secretary, who shall be appointed by the Board of Trustees to keep the books of the committee.

Cite this section

Section 247, PETROLEUM INDUSTRY ACT, 2021 (2021).

https://repo.podus.ai/laws/petroleum-industry-act-2021/section/247/