Canada-Newfoundland Atlantic Accord Implementation Act (S.C. 1987, c. 3). Country/Territory Canada Document type Legislation Date 1987 (2017) Source FAO, FAOLEX Long titleAn Act to implement an agreement between the Government of Canada and the Government of Newfoundland and Labrador on offshore petroleum resource management and revenue sharing and to make related and consequential amendments. Subject Energy, Mineral resources Keyword Sub-national agreement Oil Institution Contract/agreement Policy/planning Enforcement/compliance Indigenous peoples Geographical area Americas, Arctic, Asia and the Pacific, East Pacific, North America, North Atlantic Abstract The present Act implements the Agreement between the Government of Canada and the Government of Newfoundland and Labrador on offshore petroleum resource management. Section 229 establishes the Offshore Development Fund, to which shall be charged all amounts paid by the Federal Minister pursuant to this Part. The text consists of 239 sections divided into 7 Parts as follows: Joint management (I); Petroleum resources (II); Petroleum operations (III); Revenue sharing (IV); Fiscal equalization offset payments and determination of per capita fiscal capacity (V); Offshore Development Fund (VI); Corporate income tax (VII); Transitional, consequential and commencement (VIII). Full text English Website www.gc.ca References - Legislation Implements Atlantic Accord - Memorandum of Agreement between the government of Canada and the government of Newfoundland and Labrador on offshore. Legislation | Canada | 1985 Keyword: Sub-national agreement, Oil, Institution, Contract/agreement, Policy/planning, Enforcement/compliance Source: FAO, FAOLEX Implemented by Newfoundland and Labrador Offshore Area Line Regulations (SOR/2003-192). Legislation | Canada | 2003 (2014) Keyword: Oil, Enforcement/compliance, Survey/mapping Source: FAO, FAOLEX