Thank you, Madam Chair. There is, in fact, a requirement for a financial security but it’s in the Oil and Gas Operations Act. The Petroleum Resources Act speaks only to lands under the administration and control of the Government of the Northwest Territories. The Oil and Gas Operations Act speaks to oil and gas operations irrespective of what lands they occur on. For example, if they are on Aboriginal lands, operations on those lands will be governed by the Oil and Gas Operations Act. It’s actually called financial responsibility, but it’s the same idea, as the security needs to be posted in a manner and in a form satisfactory to the regulator. Thank you.
Mr. Fulford on Consideration in Committee of the Whole of Bills and Other Matters
In the Legislative Assembly on March 11th, 2014. See this statement in context.
Consideration in Committee of the Whole of Bills and Other Matters
Consideration in Committee of the Whole of Bills and Other Matters
March 10th, 2014
Fulford
See context to find out what was said next.