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

Marginal note:Issuance of interest not required

• 60 (1) The Regulator is not required to issue a petroleum-related interest as a result of a call for bids.

• Marginal note:New call required

  (2) Subject to section 61, if the Regulator has not issued a petroleum-related interest with respect to a particular portion of the offshore area specified in a call for bids within six months after the closing date specified in the call for bids, the Regulator shall, before issuing a petroleum-related interest in relation to that portion of the offshore area, make a new call for bids.