Canadian Energy Regulator Act (S.C. 2019, c. 28, s. 10)

Marginal note:Pooled fund

• 139 (1) Subject to subsection (2), a company may meet all or a portion of its financial requirements under subsection 138(1) by participating in a pooled fund that is established by companies authorized under this Act to construct or operate a pipeline, that meets the requirements established by the regulations and from which the Regulator may withdraw any amount under subsection 141(6).

• Marginal note:Difference

  (2) If a company meets only a portion of its financial requirements by participating in a pooled fund and the amount of funds in the pooled fund to which it has access — in the event that there is an unintended or uncontrolled release of oil, gas or any other commodity from a pipeline that the company is authorized under this Act to construct or operate — is less than the amount of financial resources referred to in subsection 138(1), the company must maintain an amount equal to the difference between those amounts.

• Marginal note:Regulations

  (3) The Governor in Council may, on the Minister’s recommendation, make regulations respecting a pooled fund referred to in subsection (1), including regulations specifying

  • (a) the minimum amount of the pooled fund and the minimum amount of the pooled fund that must be readily accessible;

  • (b) any condition that a company must meet in order to participate in the pooled fund, including the minimum amount that a company must contribute to the pooled fund;

  • (c) the maximum amount that a company may withdraw from the pooled fund; and

  • (d) the maximum portion of a company’s financial requirements that may be met by participating in the pooled fund.