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8 For the purposes of section 6 of the Act, the maximum amount of liability of an operator in respect of each deposit of waste is as follows:

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• (f) in the case of an operation engaged in exploring for, developing or exploiting oil and gas, $40 million.

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6 Any person may deposit or permit the deposit of industrial waste if the industrial waste is of a type and in a quantity and is deposited under conditions authorized by or under the Oil and Gas Production and Conservation Act, the Territorial Lands Act or the Public Lands Grants Act, whichever is applicable.