H-4.2 - Petroleum Resources Act

Full text
109. The Minister may require that a licence holder furnish any additional guarantee, within the time the Minister specifies, if the Minister considers that it is no longer sufficient in view of the foreseeable costs of performing the work required under the plan.
The Minister may also require the payment of the total guarantee if, in the Minister’s opinion, the licence holder’s financial situation or a reduction in the anticipated duration of the licence holder’s work or activities may prevent the payment of all or part of the guarantee.
2016, c. 35, s. 232016, c. 35, s. 23.
Not in force
109. The Minister may require that a licence holder furnish any additional guarantee, within the time the Minister specifies, if the Minister considers that it is no longer sufficient in view of the foreseeable costs of performing the work required under the plan.
The Minister may also require the payment of the total guarantee if, in the Minister’s opinion, the licence holder’s financial situation or a reduction in the anticipated duration of the licence holder’s work or activities may prevent the payment of all or part of the guarantee.
2016, c. 35, s. 232016, c. 35, s. 23.