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Canada-Nova Scotia Offshore Petroleum Resources Accord Implementation Act (S.C. 1988, c. 28)

Act current to 2019-08-15 and last amended on 2017-06-22. Previous Versions

PART IVRevenue Sharing (continued)

Jurisdiction of Courts

Marginal note:Jurisdiction of courts

  •  (1) Every court in the Province has jurisdiction in respect of matters arising in the offshore area under this Part or Division VI of Part II or under any laws made applicable by this Part or that Division to the offshore area, to the same extent as the court has jurisdiction in respect of matters arising within its ordinary territorial division.

  • Marginal note:Presumption

    (2) For the purposes of subsection (1), the offshore area shall be deemed to be within the territorial limits of Halifax District.

  • Marginal note:Saving

    (3) Nothing in this section limits the jurisdiction that a court may exercise apart from this section.

  • Definition of court

    (4) In this section, court includes a judge thereof and any provincial court judge or justice.

  • 1988, c. 28, s. 220
  • 2014, c. 13, s. 89

Regulations

Marginal note:Regulations

 The Governor in Council may, on the recommendation of the Minister of Finance, make regulations

  • (a) excluding, for the purposes of this Act, any provision or any part of a provision of the following that is inconsistent with this Act, the Accord or any bilateral or international treaty, convention or agreement respecting taxation, tariffs or trade to which the Government of Canada is a signatory:

    • (i) the Offshore Petroleum Royalty Act or any regulation made under it,

    • (ii) the Consumption Tax Acts or any regulation referred to in subsection 212(3.1),

    • (iii) the Insurance Premiums Tax Act or any regulation referred to in subsection 213(3.1), or

    • (iv) the Nova Scotia Income Tax Act or any regulation referred to in subsection 216(3.1); and

  • (b) prescribing anything that is by this Part to be prescribed.

  • 1988, c. 28, s. 221
  • 2014, c. 13, s. 90

Appropriation

Marginal note:Appropriation

 In respect of any fiscal year, the Federal Minister may pay out of the Consolidated Revenue Fund, at such times and in such manner as may be prescribed,

  • (a) an amount to Her Majesty in right of the Province on account of amounts that have been refunded or reimbursed during that fiscal year by the Government of the Province to taxpayers in respect of taxes paid under this Part; and

  • (b) amounts payable during that fiscal year to Her Majesty in right of the Province pursuant to paragraph 219(2)(b).

PART V[Repealed, 2015, c. 4, s. 104]

 [Repealed, 2015, c. 4, s. 104]

 [Repealed, 2015, c. 4, s. 104]

 [Repealed, 2015, c. 4, s. 104]

 [Repealed, 2015, c. 4, s. 104]

 [Repealed, 2015, c. 4, s. 104]

 [Repealed, 2015, c. 4, s. 104]

 [Repealed, 2015, c. 4, s. 104]

 [Repealed, 2015, c. 4, s. 104]

 [Repealed, 2015, c. 4, s. 104]

 [Repealed, 2015, c. 4, s. 104]

PART VI[Repealed, 2015, c. 4, s. 104]

 [Repealed, 2015, c. 4, s. 104]

 [Repealed, 2015, c. 4, s. 104]

 [Repealed, 2015, c. 4, s. 104]

 [Repealed, 2015, c. 4, s. 104]

 [Repealed, 2015, c. 4, s. 104]

 [Repealed, 2015, c. 4, s. 104]

PART VIIDrilling Fund

Interpretation

Marginal note:Definitions

 In this Part,

Canadian development expense

Canadian development expense has the meaning assigned by paragraph 66.2(5)(a) of the Income Tax Act, except that

  • (a) there shall be excluded from that meaning any Canadian exploration and development overhead expense, and

  • (b) all that portion of that paragraph following clause (vii)(C) thereof shall be read as follows:

“but any amount of assistance or benefit that a taxpayer has received, is entitled to receive or can reasonably be expected to receive after May 25, 1976 from a government, municipality or other public authority in respect of or related to his Canadian development expense, whether as a grant, subsidy, forgivable loan, deduction from royalty or tax, investment allowance or any other form of assistance or benefit, other than an investment tax credit in respect of a qualified Canadian exploration expenditure, shall reduce the amount of any of the expenses described in any of subparagraphs (i) to (v); and”; (frais d’aménagement au Canada)

Canadian exploration and development overhead expense

Canadian exploration and development overhead expense has the meaning assigned by subsection 1206(1) of the Income Tax Regulations; (frais généraux d’exploration et d’aménagement au Canada)

Canadian exploration expense

Canadian exploration expense has the meaning assigned by paragraph 66.1(6)(a) of the Income Tax Act, except that

  • (a) there shall be excluded from that meaning any Canadian exploration and development overhead expense and any expense referred to in subparagraph (i) thereof,

  • (b) any reference in that paragraph to any expense incurred in drilling or completing an oil or gas well in Canada shall be read as including, with such modifications as the circumstances require, a reference to

    • (i) any expense incurred in respect of an exploratory probe in the offshore area, and

    • (ii) any expense incurred in respect of a well in relation to a three dimensional seismic survey, an engineering study or an analytical study for the purpose of determining the location or extent of an accumulation of petroleum in the offshore area, and

  • (c) all that portion of that paragraph following clause (vii)(C) thereof shall be read as follows:

“but any amount of assistance or benefit that a taxpayer has received, is entitled to receive or can reasonably be expected to receive after May 25, 1976 from a government, municipality or other public authority in respect of or related to a Canadian exploration expense, whether as a grant, subsidy, forgivable loan, deduction from royalty or tax, investment allowance or any other form of assistance or benefit, other than an investment tax credit in respect of a qualified Canadian exploration expenditure, shall reduce the amount of any of the expenses described in any of subparagraphs (i) to (v); and”; (frais d’exploration au Canada)

investment tax credit

investment tax credit has the meaning assigned by subsection 127(9) of the Income Tax Act; (crédit d’impôt à l’investissement)

Nova Scotia Resources (Ventures) Limited

Nova Scotia Resources (Ventures) Limited means the company incorporated on November 20, 1981 under the Companies Act, Chapter 42 of the Revised Statutes of Nova Scotia, 1967; (Société)

qualified Canadian exploration expenditure

qualified Canadian exploration expenditure has the meaning assigned by subsection 127(9) of the Income Tax Act. (dépense admissible d’exploration au Canada)

Drilling Assistance

Marginal note:Assistance to Nova Scotia Resources (Ventures) Limited

  •  (1) Subject to subsection (2), the Federal Minister may, on application, make payments to Nova Scotia Resources (Ventures) Limited in respect of Canadian exploration expenses and Canadian development expenses incurred by Nova Scotia Resources (Ventures) Limited that could contribute to early development of petroleum in the offshore area.

  • Marginal note:Limitation

    (2) Payments made by the Federal Minister pursuant to subsection (1) shall not exceed fifty per cent of the aggregate of the Canadian exploration expenses and Canadian development expenses incurred in respect of wells

    • (a) subject to paragraph (b), the drilling of which began during the period commencing on August 27, 1986 and ending on December 31, 1991, or

    • (b) in the case of expenses referred to in subparagraph (b)(ii) of the definition Canadian exploration expense in section 239, during the period referred to in paragraph (a),

    to the extent that those expenses are reasonable in the circumstances.

 
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