Legal Procedures Against Commission or Authority

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What is the minimum period of written notice required to be served to the Commission or Authority before instituting a suit against them?

One week

Three months

One month (correct)

Two months

What information must a notice of intent to sue include?

Only the cause of action

Only the claimant's name and address

The cause of action, claim details, claimant's name and address, and the relief sought (correct)

None of the above

How can notices, summons, or other documents be served to the Commission or Authority?

By fax or email

Only by mail

Only by personal service

By delivering them to the offices of the Commission or Authority (correct)

What is the minimum period of notice required before executing or attaching any property of the Commission or Authority?

Three months Signup and view all the answers

Which Act does the PIA not take precedence over?

The Nigeria Oil and Gas Industry Content Development Act Signup and view all the answers

What happens when there are inconsistencies between the provisions of the PIA and other enactments or laws?

The PIA takes precedence over the other enactments or laws Signup and view all the answers

What is the relationship between the PIA and other enactments or laws, in general?

The PIA takes precedence over other enactments or laws Signup and view all the answers

What will continue to have an effect despite the change?

Subsidiary legislation Signup and view all the answers

What type of allowances will be carried over if they relate to upstream petroleum operations?

Capital allowances Signup and view all the answers

What is the objective of the Schedules section?

To interpret and summarise the Eight (8) Schedules in the PIA Signup and view all the answers

What should be ensured when creating a visual description or sketch?

The words on the screen sync with the audio Signup and view all the answers

How should the yellow text be represented in the OST?

In images and text Signup and view all the answers

What is the instruction for the title of the slide?

Make it simple Signup and view all the answers

What type of credits will not be carried over?

Investment tax credits Signup and view all the answers

What is the purpose of conducting a skills gap analysis in the context of inter-agency transfers?

To identify the most suitable institution for a staff member's skills and competence Signup and view all the answers

What type of document is required for crude oil production by converted oil mining leases based on a conversion contract and renewals?

A production allowance document Signup and view all the answers

Which of the following institutions is responsible for regulating petroleum products pricing?

Petroleum Inspectorate and Petroleum Products Pricing and Regulatory Authority Signup and view all the answers

What is the maximum production allowance for crude oil production by converted oil mining leases based on a conversion contract and renewals?

US $2.50 per barrel Signup and view all the answers

What percentage of gross revenues determined at the measurement points is the cost-price ratio limit?

65% of gross revenues Signup and view all the answers

What is the purpose of transferring existing host community development projects or schemes?

To establish a new trust for host community development Signup and view all the answers

What other products are also subject to the production allowances?

Both condensates and liquid natural gas liquids Signup and view all the answers

Who is responsible for initiating an inter-agency transfer of staff?

The Minister Signup and view all the answers

Who is responsible for establishing the detailed procedures for determining the production allowances?

The regulations Signup and view all the answers

What is the purpose of the Petroleum Equalisation Fund?

To equalize petroleum resources across different regions Signup and view all the answers

What is the purpose of the Sixth schedule?

To provide details of Production Allowances and Cost Price Ratio Limit Signup and view all the answers

What is the outcome of transferring staff based on skills gap analysis?

Staff are transferred to an institution that best matches their skills and competence Signup and view all the answers

What is the percentage of the fiscal oil price that the production allowance for crude oil production shall be compared to?

20% of the fiscal oil price Signup and view all the answers

What is the purpose of establishing a host communities development trust?

To transfer existing host community development projects or schemes Signup and view all the answers

How many schedules are contained in the Act?

Eight Signup and view all the answers

What is the subject matter of the First Schedule?

Rights of Pre-Emption Signup and view all the answers

Which schedule deals with Production Allowances and Cost Price Ratio Limit?

Sixth Schedule Signup and view all the answers

What is the subject matter of the Seventh Schedule?

Petroleum Fees, Rents and Royalty Signup and view all the answers

What is the subject matter of the Fourth Schedule?

Pricing Formula for Gas Prices for the Gas-Based Industries Signup and view all the answers

What is the subject matter of the Third Schedule?

Domestic Base Price and Allocation & Pricing of Domestic Delivery Obligation Signup and view all the answers

What is the subject matter of the Fifth Schedule?

Capital Allowances Signup and view all the answers

What is the subject matter of the Eighth Schedule?

Creation of the Ministry of Petroleum Incorporated Signup and view all the answers

What is the subject matter of the Second Schedule?

Principles of Negotiating Incorporated Joint Ventures Signup and view all the answers