Fort Nelson Indian Reserve Minerals Revenue Sharing Act — F-31.4 1
ent shall remain in full force and effect and be binding upon the said parties, and that the said provision shall be renegotiated upon such terms and conditions as may be mutually agreed upon, and that Canada, in its own right and on behalf of the Band, and the Province will proceed as soon as possible thereafter to enter into negotiations for the purpose of renegotiating the said provision and use their best endeavours to bring such negotiations to a mutually satisfactory and speedy conclusion. The said parties agree that any such renegotiated provision shall be and shall be deemed to have been in full force and effect and binding upon the parties hereto from and including that date upon which such provision became impossible of performance or was otherwise frustrated as aforesaid, and that the Agreement as amended by the renegotiated provision shall continue to provide that Canada, for the use and benefit of the Band, and the Province shall share equally the net profits, gross revenue, royalties or any like proceeds from the disposition of coal, Petroleum and Natural Gas underlying the Reserve and all claims and rights thereto. (2) Any dispute between the said parties as to whether any provision of the Agreement has become impossible of performance or is otherwise frustrated and Canada and the Province are thereby discharged from further performance of it shall, at the instance of either party, be referred to arbitration pursuant to paragraph 12 hereof. (3) In the event that Canada and the Province fail to renegotiate any provision of the Agreement which becomes impossible of performance or is otherwise frustrated as provided for in subparagraph (1) hereof, within twelve (12) weeks of the commencement of negotiations for that purpose, the matter may be referred to a Judge for final determination and the provisions of paragraph 12 hereof shall apply, mutatis mutandis , to such referral. (4) In the event that a change of circumstances not amounting to frustration of this Agreement prevents the parties from sharing equally in the net profit derived by the Province from the disposition of Natural Gas underlying the Reserve, the Province and Canada agree to renegotiate the Natural Gas Net Profit Formula in paragraph 7 hereof or any other relevant provision of this Agreement. In particular, and without restricting the generality of the foregoing, the Province and Canada agree to renegotiate the Natural Gas Net Profit Formula or any other relevant provision of this Agreement to ensure an equal sharing of Net Profit from the disposition of Natural Gas underlying the Reserve in the event that any new contracts are made for the sale of Natural Gas to the United States market. In the event that Canada and the Province fail to renegotiate such provision within 12 weeks of the commencement of negotiations for that purpose, the matter may be referred to a Judge for final determination and the provisions of paragraph 12 hereof shall apply, mutatis mutandis , to such referral. 12 ARBITRATION (1) Notwithstanding the Federal Court Act , R.S.C. 1970, 2nd supplement Chapter 10, or the Federal Courts Jurisdiction Act , R.S.B.C. 1960, Chapter 141, any dispute between Canada and the Province as to the interpretation or application of any of the provisions of this Agreement and all disputes that may arise between the parties as a consequence of this Agreement being entered into, except those disputes referred to in paragraph 9(6) hereof, may, upon thirty (30) days’ notice, be referred by either Canada or the Province to arbitration by a Judge. (2) Referral of an issue to arbitration shall be by application to the Chief Justice of the Supreme Court of British Columbia who shall designate a Judge as arbitrator. (3) The procedure for the conduct of the arbitration shall be determined solely by the Judge so designated, provided, however that he shall hear the parties, shall hear evidence, shall determine the issue between the parties, may consult exper