The present Regulations are made under section 66 of the Petroleum Resources Act. In particular, the Regulations lay down provisions relating to the levying of royalties for oil exploitations. The text – consisting of 23 sections – deals with the following aspects: interpretation, prescribed royalties, exemption, payment of prescribed royalty, deferral of royalty, certification of an abandonment and restoration royalty trust, return allowance, certification of qualified petroleum exploration expenses, reports and returns, interests, penalties and refunds.
Implements: Petroleum Resources Act (S.N.W.T. 2014, c. 15). (2015)
Authors and Publishers
Government of Northwest Territories (Canada)
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