H-4.2 - Petroleum Resources Act

Full text
32. The Minister may exempt an exploration licence holder from performing the minimum work prescribed, provided
(1)  the holder informs the Minister in writing, before the end of the year for which the work was required, of the reasons why the holder will not perform the work; and
(2)  the holder pays to the Minister an amount equal to twice the minimum amount to be spent on the work that should have been performed or, if applicable, an amount equal to twice the difference between that minimum amount and the amount spent on the work performed and reported.
2016, c. 35, s. 232016, c. 35, s. 23.
Not in force
32. The Minister may exempt an exploration licence holder from performing the minimum work prescribed, provided
(1)  the holder informs the Minister in writing, before the end of the year for which the work was required, of the reasons why the holder will not perform the work; and
(2)  the holder pays to the Minister an amount equal to twice the minimum amount to be spent on the work that should have been performed or, if applicable, an amount equal to twice the difference between that minimum amount and the amount spent on the work performed and reported.
2016, c. 35, s. 232016, c. 35, s. 23.