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Marginal note:Proof of financial responsibility

• 304 (1) An applicant for an authorization must provide proof of financial responsibility in an amount that is determined by the Commission. The proof must be in the form of a letter of credit, guarantee or indemnity bond or in any other form satisfactory to the Regulator.

• Marginal note:Continuing obligation

  (2) The holder of an authorization must ensure that the proof of financial responsibility remains in force for the duration of the work or activity in respect of which the authorization is issued.

Responsibility

Marginal note:Report

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• (2) The Commission must make its recommendation taking into account — in light of, among other things, any Indigenous knowledge that has been provided to the Commission and scientific information and data — all considerations that appear to it to be relevant and directly related to the pipeline, including

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  • (i) the financial resources, financial responsibility and financial structure of the applicant, the methods of financing the pipeline and the extent to which Canadians will have an opportunity to participate in the financing, engineering and construction of the pipeline;

Marginal note:Object of review

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• Marginal note:Responsibility

  (4) If the Commission or the person conducting the review determines that the person who requested the review committed the violation, the person who requested the review is liable to the penalty as set out in the determination.