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Canada-Nova Scotia Offshore Petroleum Resources Accord Implementation Act

Version of section 236 from 2002-12-31 to 2015-06-18:

Marginal note:Power to make payment

  •  (1) On a proposal by the Provincial Minister to the Federal Minister for the payment of an amount made in accordance with the terms of an agreement entered into or continued under section 235 the Federal Minister may, where he approves the proposal, subject to subsection (2), section 237 and the terms of the agreement, pay to Her Majesty in right of the Province in a lump sum or by instalment the amount, or any amount on account thereof.

  • Marginal note:Limitation

    (2) Only amounts incurred or specified in a proposal referred to in subsection (1) made prior to the day that is the earlier of

    • (a) the day on which the production of petroleum commences in the offshore area, as determined by the Federal Minister and the Provincial Minister, and

    • (b) the day on which the cumulative volume of production in the offshore area has reached an amount equal to one billion cubic metres of gas or an amount equivalent thereto of natural gas liquids or oil, as determined by the Federal Minister in accordance with the regulations,

    whether or not the proposal has been approved prior thereto, may be paid by the Federal Minister under this section.

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