Canada Petroleum Resources Act (R.S.C., 1985, c. 36 (2nd Supp.))

Act current to 2016-08-15 and last amended on 2016-02-27. Previous Versions

Marginal note:Security notice carries forward to new interest

 Where a significant discovery licence or production licence is issued at any time in respect of frontier lands that were not Crown reserve lands immediately before that time, the registration under this Part of a security notice in respect of the interest in force immediately preceding the issuance of that licence and relating to such frontier lands applies in respect of the licence as though the security notice referred to that licence and as though that licence had been issued prior to the registration of the security notice.

Marginal note:Registration
  •  (1) Every document submitted for registration under this Part shall be examined by the Registrar and where the Registrar determines that the document is an instrument that meets all the requirements for the registration thereof prescribed by this Act and the regulations, the Registrar shall register the instrument in accordance with this Act and the regulations.

  • Marginal note:Refusal to register

    (2) Where the Registrar refuses to register any document under this Part, the Registrar shall return the document to the person submitting the document for registration and provide that person with the reasons for the refusal.

  • Marginal note:Memorandum of registration

    (3) An instrument is registered under this Part by the endorsement of a memorandum of registration on the instrument specifying the registration number of the instrument and the time and date of registration.

  • Marginal note:Chronological order of receipt for registration

    (4) Instruments accepted for registration under this Part shall be registered in the chronological order in which such instruments are received by the Registrar.

Marginal note:Deemed notice

 The registration of an instrument under this Part shall be deemed to constitute actual notice of the instrument to all persons as of the time of registration of the instrument and, in the case of a security notice, shall be deemed to constitute actual notice to all persons who may serve a demand for information under section 95 in respect of the security notice of the contents of the documents specified in the security notice.

Marginal note:Priority of rights
  •  (1) Subject to subsections (2) and (5), any particular right, in relation to an interest or a share therein, in respect of which an instrument has been registered under this Part at any time has priority over and is valid against any other right, in relation to that interest or share,

    • (a) in respect of which an instrument may be registered under this Part,

      • (i) where the instrument was not so registered, or

      • (ii) where the instrument was so registered after that time,

      whether that other right was acquired before or after that particular right; or

    • (b) in respect of which an instrument may not be registered under this Part, acquired after that time.

  • Marginal note:Transitional

    (2) Where any right in respect of which an instrument may be registered under this Part was acquired before the coming into force of this Part and an instrument in respect of that right is registered under this Part not later than one hundred and eighty days after the coming into force of this Part, the priority and validity of that right shall be determined as though the instrument was registered under this Part at the time the right was acquired and as though this Part was in force at that time.

  • Marginal note:Idem

    (3) Notwithstanding subsection (2), no right in respect of which that subsection applies shall have priority over and be valid against any other right in respect of which that subsection applies but in respect of which an instrument is not registered within the period referred to in that subsection, where the person claiming the right in respect of which an instrument is registered within that period acquired that right with actual knowledge of the other right.

  • Marginal note:Idem

    (4) No instrument in respect of any right to which subsection (2) applies shall be registered unless it is accompanied by the statutory declaration, in prescribed form, of the person claiming that right, attesting to the time at which that right was acquired.

  • Marginal note:Operator’s lien

    (5) An operator’s lien, in relation to an interest or share therein, shall, without registration of any document evidencing the operator’s lien, have priority over and be valid against any other right, in relation to that interest or share, in respect of which an instrument may be registered under this Part, whether an instrument in respect of that other right was registered before or after the acquisition of the operator’s lien or the operator’s lien was acquired before or after that other right, unless the operator’s lien is postponed with respect to such other rights by the registration under this Part of a postponement in respect of the operator’s lien and a discharge in respect of that postponement has not been registered under this Part.

Marginal note:Demand for information
  •  (1) A person may, in accordance with this section, serve a demand for information in respect of a security notice that has been registered under this Part in relation to an interest or a share therein where that person

    • (a) is the holder of that interest or share;

    • (b) is specified in the security notice as the person from whom the security interest was acquired;

    • (c) is the secured party under another security notice registered under this Part in relation to that interest or share;

    • (d) is a member of a class of persons prescribed by the regulations for the purposes of this subsection; or

    • (e) obtains leave to do so from a court having jurisdiction in respect of the frontier lands subject to that interest or share.

  • Marginal note:Contents of demand notice

    (2) A demand for information, in respect of a security notice, may be served pursuant to subsection (1) by serving on the secured party under the security notice a demand notice, in prescribed form, requiring the secured party

    • (a) to inform the person serving the demand notice, within fifteen days after service of the notice, of the place where the documents specified in the security notice or copies thereof are located and available for examination, and of the normal business hours during which the examination may be made; and

    • (b) to make those documents or copies thereof available for examination at that place during normal business hours, by the person serving the notice or by a person authorized by him, within a reasonable period after the demand notice is served.

  • Marginal note:Service

    (3) A demand for information is served for the purposes of this section if it is sent by registered mail or delivered to the official address for service in respect of the security notice according to the records of the Registrar.

  • Marginal note:Compliance with demand

    (4) A demand for information served pursuant to subsection (1) may be complied with by mailing or delivering to the person serving the demand notice a true copy of the documents referred to in the demand notice.

  • Marginal note:Court order where failure to comply

    (5) Where a secured party fails without reasonable excuse to comply with a demand for information in respect of a security notice in relation to an interest or share therein served on the secured party in accordance with this section, a court having jurisdiction in respect of the frontier lands to which the interest or share applies may, on application by the person who served the demand notice, make an order requiring the secured party to comply with the demand for information within the time and in the manner specified in the order.

  • Marginal note:Where failure to comply with court order

    (6) Where a secured party fails to comply with an order of a court made under subsection (5), the court may, on the application of the person who applied for the order,

    • (a) make any other order the court considers necessary to ensure compliance with the order made under subsection (5); or

    • (b) make an order directing the Registrar to cancel the registration of the security notice.

  • Marginal note:Definition of “document”

    (7) In this section, document includes any amendment to the document.

Marginal note:Notice to take proceedings
  •  (1) A person who may serve a demand for information in respect of a security notice in relation to an interest or a share therein pursuant to subsection 95(1) may

    • (a) serve on the secured party under the security notice a notice to take proceedings, in prescribed form, directing that secured party to apply to a court having jurisdiction in respect of the frontier lands to which the interest or share applies, within sixty days after the day on which the notice to take proceedings is served, for an order substantiating the security interest claimed in the security notice; or

    • (b) commence proceedings in the court, requiring the secured party to show cause why the registration of the security notice should not be cancelled.

  • Marginal note:Order to shorten notice to take proceedings

    (2) The court may, by order, on the ex parte application of a person who proposes to serve a notice to take proceedings under subsection (1), shorten the sixty day period referred to in paragraph (1)(a) and, if the order is made,

    • (a) paragraph (1)(a) shall, in relation to that notice to take proceedings, be deemed to refer to the shorter period; and

    • (b) a certified copy of the order shall be served with that notice to take proceedings.

  • Marginal note:Order to extend notice to take proceedings

    (3) The court may, on the application of a secured party served with a notice to take proceedings, extend the period for applying to the court referred to in paragraph (1)(a), whether or not that period has been shortened under subsection (2).

  • Marginal note:Service

    (4) A notice to take proceedings is served for the purposes of this section if it is sent by registered mail or delivered to the secured party at the official address for service in respect of the security notice according to the records of the Registrar.

  • Marginal note:Cancellation of registration of security notice

    (5) The registration of a security notice shall be cancelled on submission to the Registrar of a statutory declaration showing that

    • (a) a notice to take proceedings was served in accordance with this section; and

    • (b) no application was commenced in accordance with the notice to take proceedings or within the period extended pursuant to subsection (3) or an application so made was dismissed by the court or discontinued.

  • Marginal note:No further registration after cancellation

    (6) Where the registration of a security notice in respect of a security interest is cancelled pursuant to subsection (5) or (7), the secured party under the security notice may not submit for registration under this Part another security notice in respect of that security interest without leave of the court to do so.

  • Marginal note:Cancellation of registration on order of court

    (7) The registration of a security notice shall be cancelled where there is submitted to the Registrar a certified copy of an order or judgment of a court directing the Registrar to do so, whether as a result of proceedings taken under this Part or otherwise.

 
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