R-1.01 - Act ending exploration for petroleum and underground reservoirs and production of petroleum and brine

Section 34 Disposition versions

2022-08-23

34. General compensation is computed for each revoked licence.

That compensation is paid, in accordance with what is provided by the program, to the eligible person or to the designated representative referred to in the fourth paragraph of section 8, as the case may be, and constitutes, if applicable, a solidary claim owed to all the eligible persons in respect of that licence.

The amount of that compensation is equal to the total of the amounts, each of which represents, among the sums determined in the program, the sums that fall under the following categories, except the expenses referred to in the second paragraph of section 33:

(1)  the acquisition cost of the licence or the share by the holder of the revoked licence if such acquisition was made after 19 October 2015;

(2)  the expenses related to compliance with the Petroleum Resources Act (chapter H-4.2), as it read on 12 April 2022, the Mining Act (chapter M-13.1) or any other Act or regulation, incurred with respect to the revoked licence since 19 October 2015 or since the date of its transfer to the holder referred to in sections 8 and 9 if the transfer was made after that date, as applicable, to the extent that those expenses were paid;

(3)  a maximum of 75% of the expenses related to the permanent well closure and site restoration carried out in accordance with this Act, as applicable;

(4)  the expenses related to the preparation and sending of documents or information under this Act and its regulations, except those referred to in subparagraph 3 and those related to the preparation and sending of documents and information required under this chapter; and

(5)  a sum for the items sent to the Minister under paragraph 2 of section 12.

The amount provided for in the third paragraph is reduced in proportion to the value of the share of the right conferred by the revoked licence held by the Government or a public body.

2022, c. 10, s. 1.

Not in force

In force: 2022-08-23

34. General compensation is computed for each revoked licence.

That compensation is paid, in accordance with what is provided by the program, to the eligible person or to the designated representative referred to in the fourth paragraph of section 8, as the case may be, and constitutes, if applicable, a solidary claim owed to all the eligible persons in respect of that licence.

The amount of that compensation is equal to the total of the amounts, each of which represents, among the sums determined in the program, the sums that fall under the following categories, except the expenses referred to in the second paragraph of section 33:

(1)  the acquisition cost of the licence or the share by the holder of the revoked licence if such acquisition was made after 19 October 2015;

(2)  the expenses related to compliance with the Petroleum Resources Act (chapter H-4.2), as it read on 12 April 2022, the Mining Act (chapter M-13.1) or any other Act or regulation, incurred with respect to the revoked licence since 19 October 2015 or since the date of its transfer to the holder referred to in sections 8 and 9 if the transfer was made after that date, as applicable, to the extent that those expenses were paid;

(3)  a maximum of 75% of the expenses related to the permanent well closure and site restoration carried out in accordance with this Act, as applicable;

(4)  the expenses related to the preparation and sending of documents or information under this Act and its regulations, except those referred to in subparagraph 3 and those related to the preparation and sending of documents and information required under this chapter; and

(5)  a sum for the items sent to the Minister under paragraph 2 of section 12.

The amount provided for in the third paragraph is reduced in proportion to the value of the share of the right conferred by the revoked licence held by the Government or a public body.

2022, c. 10, s. 1.