Canada–Newfoundland and Labrador Atlantic Accord Implementation Act

Marginal note:Jointly established Board

• 9 (1) There is established by the joint operation of this Act and the Provincial Act a board to be known as the Canada-Newfoundland Offshore Petroleum Board.

• Marginal note:Treated as Provincial entity

  (2) Subject to subsections (3) and (4), the Board shall for all purposes be treated as having been established by or under a law of the Province.

• Marginal note:Powers of corporation

  (3) The Board has the legal powers and capacities of a corporation incorporated under the Canada Business Corporations Act, including those set out in section 21 of the Interpretation Act.

• Marginal note:Dissolution of Board

  (4) The Board may be dissolved only by the joint operation of an Act of Parliament and an Act of the Legislature of the Province.