This Act concerns the administration of Crown lands, allowing for the granting of Forest Management Licences (or Timber Licences) to a defined series of persons (holders of pulp and paper licences, purchasers of licences at public auctions or by tender, builders and operators of mills for the manufacture of forest products, etc.).

The present Act provides for a centralized assessment system for real property taxation. In particular, for property tax purposes, the Taxation and Property Records Division of the Department of Finance, Energy and Municipal Affairs assesses the value of all real property within the Province.