Canada-Nova Scotia Offshore Petroleum Resources Accord Implementation Act (S.C. 1988, c. 28)

Marginal note:Remittance to Receiver General

• 101. (1) All royalties, interest and penalties payable under section 99, including the proceeds of any royalty payable in kind, shall be made payable and remitted to the Receiver General.

• Marginal note:Consolidated Revenue Fund

  (2) On the collection or receipt of any royalties, interest and penalties by the Board pursuant to this section, the royalties shall be deposited as soon as practicable to the credit of the Receiver General and paid into the Consolidated Revenue Fund in the manner prescribed by the Treasury Board under the Financial Administration Act.

Marginal note:Debts due to Her Majesty

102. All royalties, interest and penalties payable under section 99 are debts due to Her Majesty in right of Canada and are recoverable as such from the person required to pay the royalties in accordance with this Division.

Marginal note:Fund continued

• 103. (1) Part VII of the Canada Petroleum Resources Act applies, with such modifications as the circumstances require, within the offshore area.

• Marginal note:Rates subject to Board’s approval

  (2) The rates fixed by the Federal Minister pursuant to section 80 of the Canada Petroleum Resources Act, as they apply to the offshore area, are subject to approval by the Board.

• Marginal note:Appointment by Board of one of members of Environmental Studies Management Board

  (3) Notwithstanding subsection 78(2) of the Canada Petroleum Resources Act, one of the members of the Environmental Studies Management Board established by subsection 78(1) of that Act is to be appointed by the Board on the recommendation of the Provincial Minister.

• Marginal note:Reports and recommendations to Board

  (4) The Environmental Studies Management Board referred to in subsection (3) shall submit to the Board

  • (a) a copy of every annual report and recommendation submitted to the Federal Minister pursuant to paragraph 79(1)(d) or (e) of the Canada Petroleum Resources Act, and

  • (b) a copy of that part of every budget submitted to the Federal Minister pursuant to paragraph 79(1)(c) of that Act that relates to the offshore area

  at the same time the report or recommendation is submitted to the Federal Minister.

Marginal note:Interest owner exempt from payment

104. The interest owner of an interest in relation to lands situated in that portion of the offshore area that is described in Schedule IV is, in respect of those lands, exempt from the payment under section 81 of the Canada Petroleum Resources Act of any amount in respect of any period mentioned in subsection 141(1) or specified in a notice issued pursuant to subsection 141(7).