T-0.1 - Act respecting the Québec sales tax

Section 39.3 Disposition versions

2001-12-20

39.3. For the purposes of sections 39.3 to 41,

“estimated reserves” of minerals means the estimated quantities of minerals that geological and engineering data demonstrate, with reasonable certainty, to be recoverable under existing economic and operating conditions;

“farm-out agreement” means an agreement referred to in section 39.4;

“natural resource right” means

(1)  a right to exploit a mineral deposit;

(2)  a right to explore for a mineral deposit;

(3)  a right of entry or user relating to a right referred to in paragraph 1 or 2; or

(4)  a right to an amount computed by reference to the production, including profit, from, or to the value of production from, a mineral deposit;

“specified mining or well-site equipment”, in relation to the exploration or development of unproven property under a farm-out agreement, means

(1)  equipment, installations and structures for use at a mine site in the production of minerals from the mine and not in the milling, smelting, refining or other processing of the minerals after production; and

(2)  equipment, installations and structures for use at a well site in the production of minerals from the well, including a heater, dehydrator or other well-site facility for the initial treatment of substances produced from the well to prepare such production for transportation but excluding

(a)  any equipment, installation, structure or facility that serves or is intended to serve a well that has not been drilled in the course of the exploration or development under that agreement, and

(b)  any equipment, installation, structure or facility for use in the refining of oil or the processing of natural gas including the separation therefrom of liquid hydrocarbons, sulphur or other joint products or by-products;

“unproven property” means an immovable for which estimated reserves of minerals have not been established.

2001, c. 53, s. 282.