Section 255: Mid-year and annual reports.
The constitution of the host communities development trust shall contain provisions requiring the —
a management committee to submit a mid-year report of its activities to the Board of Trustees not later than 31st August of the particular year;
b management committee to submit an annual report accompanied by its audited account to the Board of Trustees not later than 28th February of the succeeding year;
c Board of Trustees to submit an annual report of the activities of the host communities development trust accompanied by its audited account to the settlor not later than 31st March of the particular year; and
d settlor to submit an annual report of the activities of the host communities development trust accompanied by its audited account to the Commission or Authority, as the case may be, not later than 31st May of the particular year.
Cite this section
Section 255, PETROLEUM INDUSTRY ACT, 2021 (2021).
https://repo.podus.ai/laws/petroleum-industry-act-2021/section/255/