125. (1) Subject to section 7, the Governor in Council may make regulations for carrying out the purposes and provisions of this Part and, without restricting the generality of the foregoing, may make regulations
(a) not inconsistent with the Canada Lands Surveys Act authorizing or requiring the survey, division and subdivision of the offshore area and defining and describing those divisions and subdivisions;
(b) prescribing the information and documentation to be provided by interest owners and interest holders for the purposes of this Part, the time when and manner in which such information and documentation is to be provided, authorizing the Board to prescribe the form in which it is to be provided and requiring such information and documentation to be provided in accordance with the regulations;
(c) requiring fees and deposits to be paid in respect of interests, prescribing the amounts of such fees and deposits, the time and manner of their payment and providing for the administration of such fees and deposits and the disposition and return of deposits; and
(d) prescribing any other matter or thing that by this Part is to be prescribed or that is to be done by regulations.
Marginal note:Publication of proposed regulations
(2) Subject to subsection (3), a copy of each regulation that the Governor in Council proposes to make under this Part shall be published in the Canada Gazette and a reasonable opportunity shall be afforded to interested persons to make representations to the Board with respect thereto.
Marginal note:Single publication required
(3) No proposed regulation need be published more than once under subsection (2) whether or not it is altered or amended after such publication as a result of representations made by interested persons as provided in that subsection.
126. (1) The Board may prescribe any form or any information to be given on a form that is by this Part or the regulations to be prescribed and may include on any form so prescribed a declaration, to be signed by the person completing the form, declaring that the information given by that person on the form is, to the best of the knowledge of that person, true, accurate and complete.
Marginal note:Forms prescribed or authorized
(2) Every form purporting to be a form prescribed or authorized by the Board shall be deemed to be a form prescribed by the Board under this Part unless called in question by the Board or some person acting for the Board or Her Majesty in right of Canada or the Province.
Marginal note:Forms not regulations
(3) Where a form or information to be given on a form is prescribed by the Board pursuant to this Act, it shall be deemed not to be a regulation within the meaning of the Statutory Instruments Act.
Division XTransitional, Consequential and Commencement
Marginal note:Exploration agreements extant are continued
127. (1) Where an exploration agreement in relation to any portion of the offshore area was entered into or negotiations in respect thereof were completed under the Canada Oil and Gas Act before the coming into force of this section, that exploration agreement shall, for the purposes of this Part, be referred to as an exploration licence and shall, subject to this Part, have effect in accordance with its terms and conditions.
Marginal note:Declarations of significant discovery are continued
(2) Where a declaration of significant discovery was made under section 44 of the Canada Oil and Gas Act and is in force on the coming into force of this section, it continues in force as if it were made pursuant to section 71 of this Part.
Marginal note:Deemed significant discovery licence
(3) Where, on the coming into force of this section, an exploration agreement is continuing in force pursuant to subsection 16(4) of the Canada Oil and Gas Act, it shall be deemed to be a significant discovery licence issued under this Part on the coming into force of this section and is subject to this Part.
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