Section 1: Establishment and functions of the Petroleum Training Institute.

(1) There shall be established an institute to be known as the Petroleum Training Institute (in this Act referred to as "the Institute") which shall be a body corporate with perpetual succession and a common seal.
(2) The functions of the Institute shall be -
(a) to provide courses of instruction, training and research in oil technology and produce technicians and such skilled personnel normally required for oil production;
(b) to arrange conferences, seminars and study groups relative to the field of learning specified in paragraph (a) of this subsection; and
(c) to perform such other functions as in the opinion of the Council may serve to promote the objectives of the Institute, including, without prejudice to the generality of the foregoing, the making of such regulations as may be necessary for entry into and type of courses approved by the Institute, the duration of such courses and their academic standards, and the recognised equivalents of such certificates and diplomas that the Institute may award.