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Canada-Newfoundland Atlantic Accord Implementation Act (S.C. 1987, c. 3).

Country/Territory
Canada
Document type
Legislation
Date
1987 (2017)
Source
FAO, FAOLEX
Long title
An 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