PART IIPetroleum Resources (continued)
DIVISION VIIEnvironmental Studies Research Fund
Marginal note:Fund continued
Marginal note:Rates subject to Board’s approval
Marginal note:Appointment by Board of one of members of Environmental Studies Management Board
(3) Notwithstanding subsection 78(2) of the Canada Petroleum Resources Act, one of the members of the Environmental Studies Management Board established by subsection 78(1) of that Act is to be appointed by the Board on the recommendation of the Provincial Minister.
Marginal note:Reports and recommendations to Board
(4) The Environmental Studies Management Board referred to in subsection (3) shall submit to the Board
(b) a copy of that part of every budget submitted to the Federal Minister pursuant to paragraph 79(1)(c) of that Act that relates to the offshore area
at the same time the report or recommendation is submitted to the Federal Minister.
Marginal note:Interest owner exempt from payment
104 The interest owner of an interest in relation to lands situated in that portion of the offshore area that is described in Schedule IV is, in respect of those lands, exempt from the payment under section 81 of the Canada Petroleum Resources Act of any amount in respect of any period specified in a notice issued under subsection 141(1) or (2).
- 1988, c. 28, s. 104
- 2015, c. 39, s. 2
DIVISION VIIITransfers, Assignments and Registration
- assignment of security interest
assignment of security interest means a notice of the assignment of a security interest or any part thereof in respect of which a security notice has been registered under this Division; (cession de sûreté)
court means the Supreme Court of Nova Scotia and includes a judge of that Court; (tribunal)
- Deputy Registrar
Deputy Registrar means such person as the Board may designate as the Deputy Registrar for the purposes of this Division; (directeur adjoint)
discharge means a notice of the discharge of a security notice or postponement and includes a partial discharge; (mainlevée)
instrument means a discharge, postponement, security notice, transfer or an assignment of a security interest; (acte)
- operator’s lien
operator’s lien means any charge on or right in relation to an interest or a share in an interest
(a) that arises under a contract
(i) to which the interest owner or holder of the interest or share is a party,
(ii) that provides for the operator appointed thereunder to carry out any work or activity related to the exploration for or the development or production of petroleum in the portions of the offshore area to which the interest or share applies, and
(iii) that requires the interest owner or holder to make payments to the operator to cover all or part of the advances made by the operator in respect of the costs and expenses of such work or activity, and
(b) that secures the payments referred to in subparagraph (a)(iii); (privilège de l’exploitant)
postponement means a document evidencing the postponement of a security notice or operator’s lien; (cession de priorité)
Registrar means such person as the Board may designate as the Registrar for the purposes of this Division; (directeur)
- secured party
secured party means the person claiming a security interest under a security notice; (partie garantie)
- security interest
security interest means any charge on or right in relation to an interest or a share in an interest that secures
(a) the payment of an indebtedness arising from an existing or future loan or advance of money,
(b) a bond, debenture or other security of a corporation, or
(c) the performance of the obligations of a guarantor under a guarantee given in respect of all or any part of an indebtedness referred to in paragraph (a) or all or any part of a bond, debenture or other security of a corporation,
and includes a security given under section 426 of the Bank Act, but does not include an operator’s lien; (sûreté)
- security notice
security notice means a notice of a security interest; (Version anglaise seulement)
transfer means a transfer of an interest or a share in an interest. (transfert)
Marginal note:Assignees deemed secured parties
(2) Where an assignment of security interest is registered under this Division, a reference in this Division to a secured party shall, in respect of the security notice to which the assignment of security interest relates, be read as a reference to the assignee named in the assignment of security interest.
- 1988, c. 28, s. 105
- 1991, c. 46, s. 586
- 1999, c. 31, s. 30
Transfer and Assignment
Marginal note:Notice of disposition of any interest
106 Where an interest holder of an interest or any share therein enters into an agreement or arrangement that is or may result in a transfer, assignment or other disposition of the interest or any share therein, the interest holder shall give notice of such agreement or arrangement to the Board, together with a summary of its terms and conditions or, on the request of the Board, a copy of the agreement or arrangement.
107 and 107.1 [Repealed, 1993, c. 47, s. 16]
Marginal note:Establishment of register
Marginal note:Duties of Registrar and Deputy Registrar
(2) The Registrar and Deputy Registrar shall exercise such powers and perform such duties and functions in respect of the register and the system of registration established under this Division as may be prescribed.
Marginal note:Prohibition against registration of documents except instruments
Marginal note:Requirements of registration
(2) No instrument may be registered under this Division unless it has been submitted for registration in the form prescribed for that instrument, in such manner and containing such information as may be prescribed, and meets any other requirement for the registration thereof prescribed by this Division and the regulations.
110 [Repealed, 1993, c. 47, s. 17]
Marginal note:Requirements of registering security notice
Marginal note:Notice of official address
(2) No instrument may be registered under this Division unless a notice of official address for service in respect of that instrument is filed with the Registrar in prescribed form.
Marginal note:Revision of notice of official address
(3) The official address for service in respect of an instrument may be changed by filing with the Registrar another notice of official address for service, in prescribed form.
- Date modified: