Nova Scotia Share of Offshore Revenue Interim Period Payment Regulations

Contents

Whereas, pursuant to subsection 70(2) of the Canada-Nova Scotia Oil and Gas Agreement Act, a copy of the proposed Nova Scotia Share of Offshore Revenue Interim Period Payment Regulations , in the form set out in the schedule hereto, was furnished to the Minister of Finance for Nova Scotia and to the Minister of Mines and Energy for Nova Scotia on October 18, 1984;And Whereas the Minister of Finance for Nova Scotia and the Minister of Mines and Energy for Nova Scotia have agreed to waive the thirty day requirement as provided for in subsection 58(3), as that subsection applies by virtue of subsection 70(2) of the said Act.Therefore, Her Excellency the Governor General in Council, on the joint recommendation of the Minister of Finance and the Minister of Energy, Mines and Resources, pursuant to subparagraph 70(1)(a)(i) of the Canada-Nova Scotia Oil and Gas Agreement Act and on the recommendation of the Minister of Energy, Mines and Resources pursuant to subparagraph 70(1)(b)(ii) of that Act, is pleased hereby to make the annexed Regulations respecting the Interim Payment to Her Majesty in Right of Nova Scotia of the Nova Scotia Share of Offshore Revenue Under Part III of the Canada-Nova Scotia Oil and Gas Agreement Act.^note

Short Title

1 #

These Regulations may be cited as the Nova Scotia Share of Offshore Revenue Interim Period Payment Regulations.

Interpretation

2 #

In these Regulations,

Act means the Canada-Nova Scotia Oil and Gas Agreement Act; (Loi)

Minister means the Minister of Energy, Mines and Resources. (Ministre)

^note

Transfer to Revenue Fund

3 #

Where pursuant to subsection 63(6) of the Act the Minister of Finance has estimated the amount referred to in paragraph (e) of the definition offshore revenue in subsection 63(1) of the Act in respect of a fiscal year during the term of the Agreement before Part VI of the Act came into force, the Minister shall transfer such amount to the Revenue Fund.

4 #

Where pursuant to subsection 63(6) of the Act the Minister of Finance has estimated the amount referred to in paragraph (f) of the definition offshore revenuein subsection 63(1) of the Act in respect of a fiscal year during the term of the Agreement before Part II of the Act came into force, the Minister shall transfer such amount to the Revenue Fund.

Payment to Nova Scotia

5 #

Where any amount has been transferred to the Revenue Fund pursuant to section 3 or 4, the Minister shall forthwith pay such amount to Her Majesty in right of Nova Scotia.

Federal laws of Canada reproduced under the Reproduction of Federal Law Order (SI/97-5); not the official version. Source: Justice Laws Website.