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

Act current to 2016-02-03 and last amended on 2014-04-01. Previous Versions

Marginal note:Fixing rates
  •  (1) Each Minister may, for the purposes of this Part, after considering any recommendations made to that Minister by the Board pursuant to paragraph 79(1)(e), fix a rate for each prescribed region of frontier lands within the area under the administrative responsibility of that Minister.

  • Marginal note:Recommendations

    (2) In fixing a rate under subsection (1), the Minister is not bound by a recommendation of the Board.

  • R.S., 1985, c. 36 (2nd Supp.), s. 80;
  • 1993, c. 34, s. 16.
Marginal note:Payment into sub-accounts
  •  (1) Every interest owner of an interest in relation to frontier lands situated in a prescribed region shall deposit for payment into the sub-account for that region, at the times and in the manner determined by the Board, an amount equal to the product of the number of hectares of frontier lands that are subject to the interest and situated in the region and the rate fixed under subsection 80(1) in respect of that region.

  • Marginal note:Initial payment

    (2) Subject to subsection (3), where an interest is issued at any time in relation to frontier lands that were Crown reserve lands immediately before that time, the interest owner shall deposit for payment into the applicable sub-accounts, at the times and in the manner determined by the Board, an amount equal to the aggregate of the amounts that would have been payable by the interest owner in respect of a Fund under this Part or in respect of a fund under the Canada Oil and Gas Act, as it read immediately before the coming into force of this section, during the year in which the interest is issued and the two years immediately preceding that year had such frontier lands been subject to an interest held by the interest owner during such period.

  • Marginal note:Reduction of initial payment

    (3) The amount payable by an interest owner under subsection (2) shall be reduced by the amount, if any, deposited for payment pursuant to subsection (1) or (2) in respect of the same frontier lands by a prior interest owner during the period referred to in subsection (2).

  • Marginal note:Exemption

    (4) Each Minister may, on the recommendation of the Board, exempt from the payment under this section of any amount into a sub-account under the administrative responsibility of that Minister an interest owner in respect of frontier lands subject to the interest of that interest owner in areas where, by virtue of an order under subsection 12(1), any work or activity has been prohibited.

  • Marginal note:No liability where surrender of lands

    (5) An interest owner shall not be liable to pay any amount under this section in respect of any frontier lands in relation to which the interest owner has surrendered the interest of the interest owner prior to the time for payment of the amount determined pursuant to subsection (1).

  • Marginal note:Representative of interest owner collects

    (6) Where an interest owner consists of two or more holders, amounts payable under this Part shall be collected and remitted on behalf of the interest owner by the representative of the interest owner for that purpose.

Marginal note:Order in Council authorizing agreement for trust
  •  (1) The Governor in Council may authorize the Minister to enter into an agreement under subsection (2).

  • Marginal note:Administration agreement

    (2) The Minister may, where authorized by the Governor in Council pursuant to subsection (1), enter into an agreement with any person appointing that person to act as administrator of the Fund.

  • Marginal note:Terms of agreement

    (3) An agreement entered into pursuant to subsection (1) shall provide for

    • (a) the powers, duties and functions of the administrator with respect to the Fund;

    • (b) the payment of the expenses and fees of the administrator; and

    • (c) any other relevant matter or thing.

Marginal note:Regulations

 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) prescribing the qualifications of members of the Board and prohibiting the appointment of persons as members of the Board who do not meet those qualifications;

  • (b) prescribing, or prescribing the manner of selecting, persons or classes of persons from among whom members of the Board are to be appointed;

  • (c) prescribing regions for the purposes of this Part; and

  • (d) prescribing any other matter or thing that by this Part is to be prescribed.

PART VIIITransfers, Assignments and Registration

Interpretation

Marginal note:Definitions
  •  (1) In this Part,

    assignment of security interest

    cession de sûreté

    assignment of security interest means a notice of the assignment of a security interest or any part thereof in respect of which a security notice has been registered under this Part; (cession de sûreté)

    court

    tribunal

    court means, with respect to any frontier lands or any portion thereof, such superior court as may be prescribed and includes a judge thereof; (tribunal)

    Deputy Registrar

    directeur adjoint

    Deputy Registrar means

    • (a) in relation to any area in respect of which the Minister of Natural Resources has administrative responsibility for the natural resources therein, such person as that Minister may designate, and

    • (b) in relation to any area in respect of which the Minister of Indian Affairs and Northern Development has administrative responsibility for the natural resources therein, such person as that Minister may designate; (directeur adjoint)

    discharge

    mainlevée

    discharge means a notice of the discharge of a security notice or postponement and includes a partial discharge; (mainlevée)

    instrument

    acte

    instrument means a discharge, postponement, security notice, transfer or an assignment of a security interest; (acte)

    operator’s lien

    privilège de l’exploitant

    operator’s lien means any charge on or right in relation to an interest or a share in an interest

    • (a) that arises under a contract

      • (i) to which the interest owner or holder of the interest or share is a party,

      • (ii) that provides for the operator appointed thereunder to carry out any work or activity related to the exploration for or the development or production of petroleum in the frontier lands to which the interest or share applies, and

      • (iii) that requires the interest owner or holder to make payments to the operator to cover all or part of the advances made by the operator in respect of the costs and expenses of such work or activity, and

    • (b) that secures the payments referred to in subparagraph (a)(iii); (privilège de l’exploitant)

    postponement

    cession de priorité

    postponement means a document evidencing the postponement of a security notice or operator’s lien; (cession de priorité)

    Registrar

    directeur

    Registrar means

    • (a) in relation to any area in respect of which the Minister of Natural Resources has administrative responsibility for the natural resources therein, such person as that Minister may designate, and

    • (b) in relation to any area in respect of which the Minister of Indian Affairs and Northern Development has administrative responsibility for the natural resources therein, such person as that Minister may designate; (directeur)

    secured party

    partie garantie

    secured party means the person claiming a security interest under a security notice; (partie garantie)

    security interest

    sûreté

    security interest means any charge on or right in relation to an interest or a share in an interest that secures

    • (a) the payment of an indebtedness arising from an existing or future loan or advance of money,

    • (b) a bond, debenture or other security of a corporation, or

    • (c) the performance of the obligations of a guarantor under a guarantee given in respect of all or any part of an indebtedness referred to in paragraph (a) or all or any part of a bond, debenture or other security of a corporation,

    and includes a security given under section 426 of the Bank Act, but does not include an operator’s lien; (sûreté)

    security notice

    Version anglaise seulement

    security notice means a notice of a security interest; (Version anglaise seulement)

    transfer

    transfert

    transfer means a transfer of an interest or a share in an interest. (transfert)

  • Marginal note:Assignees deemed secured parties

    (2) Where an assignment of security interest is registered under this Part, a reference in this Part to a secured party shall, in respect of the security notice to which the assignment of security interest relates, be read as a reference to the assignee named in the assignment of security interest.

  • R.S., 1985, c. 36 (2nd Supp.), s. 84, c. 21 (4th Supp.), s. 3;
  • 1991, c. 46, s. 587;
  • 1994, c. 41, s. 17.
 
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