119. Every person who has acquired a concession for which letters patent were not issued before 1 July 1911 shall, each year from the beginning of its operation, perform work on the land subject to his concession of the nature and for the minimum cost determined by regulation. However, amounts disbursed for property examination and technical assessment work shall not be accepted beyond one-fourth of the minimum cost.
A grantee who fails to perform the required work shall pay to the Minister, before 1 February of each year, an amount equal to the minimum cost of the required work or, as the case may be, to the difference between the minimum cost and the cost of the work performed and reported.
Before 1 February each year, the grantee shall report the work performed to the Minister; the report shall contain the information and be accompanied with the documents prescribed by regulation.
1987, c. 64, s. 119; 1988, c. 9, s. 28.