Canada-Nova Scotia Offshore Petroleum Resources Accord Implementation Act

Marginal note:Definitions

• 223 (1) In this Part,

  commencement of commercial production of petroleum

  début de la production commerciale d’hydrocarbures

  commencement of commercial production of petroleum means the earlier of

  • (a) the date designated by the Federal Minister as the first day on which a volume of gas equal to four million cubic metres or a volume equivalent thereto of natural gas liquids or oil, as determined by the Minister of Finance in accordance with the regulations, has, during that day, flowed through the first sales meter for sale and delivery, and

  • (b) the date designated by the Provincial Minister; (début de la production commerciale d’hydrocarbures)

  first fiscal year of offshore production

  premier exercice de production extracôtière

  first fiscal year of offshore production means, at the option of the Government of the Province, exercised by filing a notice in writing with the Federal Minister before the commencement of commercial production of petroleum in the offshore area,

  • (a) the earliest of

    • (i) the fiscal year beginning on the first day of April next following the day that is three years immediately following the commencement of commercial production of petroleum in the offshore area, and

    • (ii) any one of the three fiscal years immediately preceding the fiscal year referred to in subparagraph (a)(i), if a request for the designation of such year as the first fiscal year of offshore production is made in writing to the Federal Minister by the Provincial Minister prior to the beginning of such year, or

  • (b) the fiscal year beginning on the first day of April next following the commencement of commercial production of petroleum in the offshore area; (premier exercice de production extracôtière)

  Fiscal Arrangements Act

  loi de 1977

  Fiscal Arrangements Act means the Federal-Provincial Fiscal Arrangements and Federal Post-Secondary Education and Health Contributions Act, 1977; (loi de 1977)

  national average per capita fiscal capacity

  moyenne nationale

  national average per capita fiscal capacity means the per capita fiscal capacity of all of the provinces; (moyenne nationale)

  offshore revenue

  recettes extracôtières

  offshore revenue, in respect of any fiscal year, means the aggregate of amounts paid during that fiscal year to Her Majesty in right of the Province pursuant to paragraph 219(2)(b); (recettes extracôtières)

  phase-in portion

  fraction progressive

  phase-in portion means

  • (a) in respect of the first fiscal year of offshore production and, where applicable, the fiscal year immediately preceding the first fiscal year of offshore production, ten per cent,

  • (b) in respect of the first fiscal year following the first fiscal year of offshore production, twenty per cent,

  • (c) in respect of the second fiscal year following the first fiscal year of offshore production, thirty per cent,

  • (d) in respect of the third fiscal year following the first fiscal year of offshore production, forty per cent,

  • (e) in respect of the fourth fiscal year following the first fiscal year of offshore production, fifty per cent,

  • (f) in respect of the fifth fiscal year following the first fiscal year of offshore production, sixty per cent,

  • (g) in respect of the sixth fiscal year following the first fiscal year of offshore production, seventy per cent,

  • (h) in respect of the seventh fiscal year following the first fiscal year of offshore production, eighty per cent, and

  • (i) in respect of the eighth fiscal year following the first fiscal year of offshore production, ninety per cent; (fraction progressive)

  province

  province

  province does not include the Northwest Territories, Yukon or Nunavut. (province)

• Marginal note:Determination of population

  (2) For the purposes of this Part, the population of a province for a fiscal year is the population of that province for that fiscal year, as determined for the purposes of Part I of the Fiscal Arrangements Act.