Regulation 77. (1) A contractor, subcontractor, licensee or other allied entity shall before engaging in a petroleum activity prepare and submit a local content plan for approval at the time ofsubmission to the Commission of an application to undertake a petroleum activity.(2) For the purposes of subregulation (1), a contractor, subcontractor, licensee, or otherallied entity shall submit to the Commission(a) a long-term local content plan which corresponds with the work programmethat accompanies the application made by the contractor, subcontractor,licensee, or other allied entity to undertake petroleum activities as specified inthese Regulations; and(b) an annual local content plan in respect of each year.(3) The Commission shall, within seven working days of the receipt of a local contentplan, acknowledge receipt and lodge the local content plan with the Committee.