Canada–Newfoundland and Labrador Atlantic Accord Implementation and Offshore Renewable Energy Management Act

Marginal note:Plan for interests

• 43 (1) During the first month of each calendar year, the Regulator shall submit to the Federal Minister and the Provincial Minister a plan outlining the anticipated decisions of the Regulator during that calendar year respecting the making of calls for bids pursuant to Part II with respect to interests to be issued in relation to portions of the offshore area and the issuance and terms and conditions of such interests.

• Marginal note:Revised plan

  (2) Where the Minister having authority in relation to fundamental decisions, as determined under subsection 34(1) or (4), is of the opinion that a plan referred to in subsection (1) does not provide adequately for the attainment or maintenance of self-sufficiency and security of supply within the meaning of section 33, that Minister may reject the plan and where that Minister does so, shall inform the Regulator of the reasons for so doing.

• Marginal note:Idem

  (3) Where the Regulator is informed of a Minister’s rejection of its plan and the reasons therefor, the Regulator shall, within sixty days after being so informed, prepare a revised plan outlining the anticipated decisions of the Regulator referred to in subsection (1), taking into account those reasons, and submit the revised plan to the Federal Minister and the Provincial Minister.

• Marginal note:Application of subsections (2) and (3) to revised plan

  (4) Subsections (2) and (3) apply, with such modifications as the circumstances require, with respect to a revised plan submitted pursuant to subsection (3).