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).

Marginal note:Jointly issued notice — prohibition

• 141. (1) The Federal Minister and the Provincial Minister may jointly issue a written notice prohibiting, for a period beginning on the day specified in the notice and ending on December 31, 2022, the exploration and drilling for and the production, conservation and processing of petroleum in that portion of the offshore area described in Schedule IV, and the transportation of petroleum produced in that portion of the offshore area.

• Marginal note:Further period

  (2) The Federal Minister and the Provincial Minister may jointly issue one or successive written notices, after a review of the environmental and socio-economic impact of exploration and drilling activities in that portion of the offshore area described in Schedule IV and any other relevant factor, each extending the prohibition established in subsection (1) in all or any part of that portion of the offshore area for a specified period of no more than 10 years.

• Marginal note:Prohibition

  (3) No person shall, for the duration of the period specified in a written notice issued under subsection (1) or (2), engage in the activities listed in subsection (1) in that portion of the offshore area described in Schedule IV or in any part of it that is specified in the notice.