GreatNorthCollective/greatnorth-canada-federal-laws-text huggingface dataset:
Frontier Lands Petroleum Royalty Regulations — Frontier Lands Petroleum Royalty Regulations
cumulative return allowance of an interest holder of a production licence in relation to a project in respect of any month means the aggregate of the return allowances for the months preceding that month; ( montant cumulatif de l’allocation de rendement )
Frontier Lands Petroleum Royalty Regulations — Frontier Lands Petroleum Royalty Regulations
delineation well means a well that is so located in relation to another well penetrating an accumulation of petroleum that there is a reasonable expectation that another portion of the accumulation will be penetrated by the first-mentioned well and that the drilling of the first-mentioned well is necessary in order to determine the commercial value of the accumulation; ( puits de délimitation )
Frontier Lands Petroleum Royalty Regulations — Frontier Lands Petroleum Royalty Regulations
development plan means a development plan or an amended development plan approved pursuant to the Canada Oil and Gas Operations Act ; ( plan de mise en valeur )
Frontier Lands Petroleum Royalty Regulations — Frontier Lands Petroleum Royalty Regulations
development well means a well that is so located in relation to another well penetrating an accumulation of petroleum that it is considered to be a well or part of a well drilled for the purpose of production or observation or for the injection or disposal of fluid into or from the accumulation; ( puits d’exploitation )
Frontier Lands Petroleum Royalty Regulations — Frontier Lands Petroleum Royalty Regulations
discovery well means the well drilled on a geological feature that indicates that a significant discovery has been made; ( puits de découverte )
Frontier Lands Petroleum Royalty Regulations — Frontier Lands Petroleum Royalty Regulations
exploratory well means a well drilled on a geological feature on which a significant discovery has not been made; ( puits d’exploration )
Frontier Lands Petroleum Royalty Regulations — Frontier Lands Petroleum Royalty Regulations
facility means a gas plant or a transportation facility; ( installation )
Frontier Lands Petroleum Royalty Regulations — Frontier Lands Petroleum Royalty Regulations
gas plant means a facility for processing transportable petroleum by any process, including absorption, adsorption and refrigeration, designed to recover residue gas or gas plant products; ( usine de traitement du gaz )
Frontier Lands Petroleum Royalty Regulations — Frontier Lands Petroleum Royalty Regulations
gross revenues of an interest holder of a production licence from petroleum produced from project lands means the gross revenues of the interest holder as determined in accordance with Schedule II; ( revenus bruts )
Frontier Lands Petroleum Royalty Regulations — Frontier Lands Petroleum Royalty Regulations
Her Majesty means Her Majesty in right of Canada; ( Sa Majesté )
Frontier Lands Petroleum Royalty Regulations — Frontier Lands Petroleum Royalty Regulations
inflation index means the monthly Consumer Price Index as published by Statistics Canada under the authority of the Statistics Act ; ( indice d’inflation )
Frontier Lands Petroleum Royalty Regulations — Frontier Lands Petroleum Royalty Regulations
investment royalty credit of an interest holder means twenty-five per cent of that portion of the qualified frontier exploration expenses claimed by the interest holder as Canadian exploration expenses under the Income Tax Act , as amended from time to time, and certified by the Minister pursuant to subsection 10(3); ( crédit de redevance à l’investissement )
Frontier Lands Petroleum Royalty Regulations — Frontier Lands Petroleum Royalty Regulations
investment royalty credit balance of an interest holder in respect of a month means the amount, if any, by which the aggregate of all of that interest holder’s investment royalty credits exceeds the aggregate of all amounts deducted under subsection 3(3) in respect of the months preceding that month; ( solde du crédit de redevance à l’investissement )
Frontier Lands Petroleum Royalty Regulations — Frontier Lands Petroleum Royalty Regulations
long-term government bond rate in respect of any month means the average percentage yield, during the calendar year immediately preceding the calendar year in which that month falls, of securities issued by the Government of Canada maturing in over ten years, as published by the Bank of Canada in the Bank of Canada Review ; ( taux des obligations à long terme du gouvernement )
Frontier Lands Petroleum Royalty Regulations — Frontier Lands Petroleum Royalty Regulations
marketable condition [Repealed, SOR/2008-96, s. 3]
Frontier Lands Petroleum Royalty Regulations — Frontier Lands Petroleum Royalty Regulations
month of payout of an interest holder of a production licence in relation to a project means the first month in respect of which the interest holder’s cumulative gross revenues in relation to the project are equal to or greater than the interest holder’s cumulative costs in relation to the project; ( mois de recouvrement de l’investissement initial )
Frontier Lands Petroleum Royalty Regulations — (a)
net revenues of an interest holder of a production licence in relation to a project in respect of a month means the amount by which the interest holder’s gross revenues in that month exceed the aggregate of the interest holder’s (a) allowed capital costs in relation to the project in respect of that month, (b) allowed operating costs in relation to the project in respect of that month, (c) capital cost adjustment in relation to the project in respect of that month, and (d) operating cost adjustment in relation to the project in respect of that month; ( revenus nets )
Frontier Lands Petroleum Royalty Regulations — (a)
non-qualifying expense means an expense (a) that is a Canadian exploration and development overhead expense within the meaning of section 1206 of the Income Tax Regulations , as amended from time to time, or (b) in respect of which a reimbursement, compensation or other payment is made, including any amount of assistance or benefit from a government, municipality or other public authority, whether as a grant, subsidy, forgivable loan, deduction from royalty or tax, investment allowance or any other form of assistance or benefit; ( frais non admissibles )
Frontier Lands Petroleum Royalty Regulations — Frontier Lands Petroleum Royalty Regulations
operating cost adjustment of an interest holder of a production licence in relation to a project in respect of any month means an amount equal to ten per cent of the allowed operating costs of the interest holder in relation to the project in respect of that month; ( rajustement des frais d’exploitation )
Frontier Lands Petroleum Royalty Regulations — Frontier Lands Petroleum Royalty Regulations
point of production means the point at which transportable petroleum leaves production infrastructure; ( point de production )
Frontier Lands Petroleum Royalty Regulations — Frontier Lands Petroleum Royalty Regulations
production facility [Repealed, SOR/2008-96, s. 3]
Frontier Lands Petroleum Royalty Regulations — (a)
production infrastructure means any equipment and buildings that are used for the production or treatment of petroleum from the reservoir and includes (a) equipment for natural pressure reduction, mechanical separation, heating, cooling, dehydration and compression, and (b) batteries, gathering lines, storage areas, tanks, landing areas, heliports and personnel accommodations; ( infrastructure de production )
Frontier Lands Petroleum Royalty Regulations — Frontier Lands Petroleum Royalty Regulations
production month means a calendar month in which petroleum is produced from project lands on one or more days in that month; ( mois de production )
Frontier Lands Petroleum Royalty Regulations — Frontier Lands Petroleum Royalty Regulations
project means a project described in a development plan; ( projet )
Frontier Lands Petroleum Royalty Regulations — Frontier Lands Petroleum Royalty Regulations
project commencement date means the date on which a project development plan is approved; ( date de démarrage du projet )
Frontier Lands Petroleum Royalty Regulations — Frontier Lands Petroleum Royalty Regulations
project lands means the frontier lands, described in the production licence or licences issued for the purpose of producing petroleum from those lands in accordance with a project; ( terres domaniales du projet )
Frontier Lands Petroleum Royalty Regulations — (a)
qualified frontier exploration expenses means the aggregate of all expenses that are incurred in the drilling or completing of an exploratory well, an exploratory probe or a delineation well that is located on frontier lands in respect of which the Act applies, or in preparing the site in respect of such a well or in the building of a temporary access road to the site, and that (a) are incurred on or before August 31, 2008, (b) do not exceed $5 million in respect of any one well, (c) are not non-qualifying expenses, and (d) are reasonable in the circumstances; ( frais d’exploration admissibles sur des terres domaniales )
Frontier Lands Petroleum Royalty Regulations — Frontier Lands Petroleum Royalty Regulations
return allowance of an interest holder of a production licence in relation to a project in respect of any month means the return allowance for that month calculated in accordance with section 9; ( allocation de rendement )
Frontier Lands Petroleum Royalty Regulations — Frontier Lands Petroleum Royalty Regulations
transportable petroleum means petroleum that is sufficiently free from impurities and is otherwise in such a condition that it will be accepted for transportation by a transportation facility. ( hydrocarbures transportables )
Frontier Lands Petroleum Royalty Regulations — Frontier Lands Petroleum Royalty Regulations
transportation facility means a pipeline, tanker or other transportation equipment used to deliver petroleum from project lands, or, in the case described in paragraph 1(1)(m) of Schedule I, from production infrastructure, to the point at which the petroleum is delivered to the first purchaser of the petroleum; ( réseau de transport )
Frontier Lands Petroleum Royalty Regulations — 3
3 (1) The prescribed royalty reserved to Her Majesty under subsection 55(1) of the Act from each interest holder is (a) in respect of petroleum produced from project lands in a month preceding the month of payout (i) beginning with the first production month and ending with the eighteenth production month, one per cent of the gross revenues of the interest holder from that petroleum, (ii) beginning with the nineteenth production month and ending with the thirty-sixth production month, two per cent of the gross revenues of the interest holder from that petroleum, (iii) beginning with the thirty-seventh production month and ending with the fifty-fourth production month, three per cent of the gross revenues of the interest holder from that petroleum, (iv) beginning with the fifty-fifth production month and ending with the seventy-second production month, four per cent of the gross revenues of the interest holder from that petroleum, and (v) beginning with the seventy-third production month and ending with the last production month preceding the month of payout, five per cent of the gross revenues of the interest holder from that petroleum, or (b) in respect of petroleum produced from project lands in the month of payout or any month thereafter, the greater of (i) thirty per cent of the net revenues of the interest holder from that petroleum, and (ii) five per cent of the gross revenues of the interest holder from that petroleum. (c) [Repealed, SOR/2008-96, s. 4] (2) Subject to subsection (3), the royalty payable for a month is equal to the amount obtained from the following formula: A + B - C where A is the prescribed royalty reserved for the month as calculated under subsection (1); B is the deferred royalty that is payable in the month in accordance with subsection 6.1(2); and C is the amount of royalty deferred in the month in accordance with section 6. (3) The royalty payable is further reduced by a credit equal to the lesser of the amount calculated under subsection (2) and the investment royalty credit balance. (4) Royalties are payable on petroleum that is transported from the project lands by a transportation facility or, subject to section 4, consumed, lost or wasted. SOR/2008-96, s. 4
Frontier Lands Petroleum Royalty Regulations — 4
4 (1) Subject to subsection (2), no royalties are payable in respect of petroleum, produced from project lands, that is (a) consumed on project lands in drilling or testing or in any production infrastructure for the purposes of the project; (b) injected into a formation for conservation purposes; (c) consumed in the operation of a facility, to the extent that (i) it is for processing or transporting petroleum produced from the project, and (ii) the cost of the consumed petroleum is not included in a gas processing allowance or a transportation allowance; or (d) flared. (2) Subsection (1) does not apply to any petroleum that is wasted within the meaning of subsection 18(2) of the Canada Oil and Gas Operations Act . SOR/2008-96, s. 5
Frontier Lands Petroleum Royalty Regulations — 5
5 (1) The royalty payable, in respect of a month, is payable in the following two installments: (a) the first installment is due on the last day of the following month and is equal to the royalty payable under section 3 for the previous month; and (b) the second installment is due on the last day of the second following month and is equal to the difference between the amount payable under section 3 for the month and the first installment. (2) If the amount calculated under paragraph (1)(b) is negative, (a) no second installment is due for that month; and (b) the amount, as a positive value, is included in the first installment for the following month. SOR/2008-96, s. 6
Frontier Lands Petroleum Royalty Regulations — 6
6 (1) Subject to subsection (2), an interest holder of a production licence in relation to a project may choose to defer an amount of royalty payable for a production month, as determined under subparagraph 3(1)(b)(i), that is equal to 30% of part or all of a contribution that it makes into an abandonment and restoration royalty trust in relation to the project. (2) The amount of royalty payable deferred in a month shall not reduce the royalty payable with respect to such month below the amount determined under subparagraph 3(1)(b)(ii). (3) A contribution may be applied, in whole or in part, to defer the amount of royalty payable in the month in which the contribution is made or to the amount of royalty payable in a following month or months. (4) For the purposes of subsection (1), all realized income earned by the trust shall be considered to be a contribution. SOR/2008-96, s. 6
Frontier Lands Petroleum Royalty Regulations — 6.1
6.1 (1) If an interest holder makes a withdrawal from an abandonment and restoration royalty trust that is greater than the amount by which the trust balance exceeds the contribution deferral balance, the contribution deferral balance for that month is reduced by an amount equal to the result obtained from the following formula: A - B + C where A is the amount of the withdrawal; B is the trust balance prior to the withdrawal; and C is the contribution deferral balance prior to the withdrawal. (2) The amount of deferred royalty payable for that month is equal to 30% of the amount, if any, by which the amount calculated in subsection (1) exceeds the abandonment and restoration expenses which (a) are allowed capital costs; (b) are applied against the withdrawal in that month; (c) have not been used to calculate net revenues or applied against a withdrawal in the previous month; and (d) include the capital cost adjustment on those expenses. (3) All realized losses incurred by the trust shall be considered to be a withdrawal. (4) Any amounts remaining in a trust when the certification of that trust expires under subsection 7(3) shall be treated as a withdrawal. (5) If an interest holder (in this section referred to as the predecessor ) sells an interest or a share of an interest in relation to a project to another person (in this section referred to as the successor ), the predecessor may transfer a portion of its contribution deferral balance for that project to the successor, in respect of the same project, equal to the lesser of (a) the predecessor’s contribution deferral balance for that project multiplied by the percentage interest sold in the project to the successor; and (b) the amount transferred by the predecessor from its abandonment and restoration royalty trust for that project to the successor’s abandonment and restoration royalty trust for that same project. (6) The amount determined in subsection (5) will not be considered to be a withdrawal of the predecessor and the contribution deferral balance shall be considered as if it had been made by the successor. SOR/2008-96, s. 6
Frontier Lands Petroleum Royalty Regulations — 7
7 (1) An interest holder in relation to a project may apply to the Minister, in the prescribed form, for the certification of an abandonment and restoration royalty trust for that interest holder’s interest in the project. (2) The Minister shall certify the abandonment and restoration royalty trust if (a) the trust indenture includes the mandatory clauses set out in the prescribed form; (b) the trust is managed by a trustee that is dealing at arm’s length with the interest holder and that is a corporation resident in Canada that is licensed or otherwise authorized under the laws of Canada or of a province to carry on in Canada the business of offering to the public its services as trustee; (c) the trust is restricted to holding property described in any of paragraphs (a), (b) and (f) of the definition qualified investment in section 204 of the Income Tax Act ; (d) the trust is established for the sole purpose of holding funds to be used by the interest holder for abandonment and restoration for the project; and (e) the trust indenture includes a mandatory clause providing that the ownership of the trust cannot be transferred to another person. (3) An abandonment and restoration royalty trust certification expires on the earlier of the date on which (a) the interest holder terminates the trust; (b) the interest holder sells its entire interest in the project; (c) the interest holder becomes insolvent or commits an act of bankruptcy; or (d) all abandonment and restoration is completed. SOR/2008-96, s. 6
Frontier Lands Petroleum Royalty Regulations — 8
8 (1) If a person (in this section referred to as the successor ) acquires, by purchase or otherwise, from an interest holder (in this section referred to as the predecessor ) a share in an interest in relation to a project that has not reached the month of payout, the successor’s cumulative costs in relation to that share in respect of the month of acquisition are, subject to subsection (3), an amount equal to the product of (a) the aggregate of (i) the amount, if any, by which the predecessor’s cumulative costs in relation to that project in respect of the month immediately preceding the month of acquisition exceed the predecessor’s cumulative gross revenues in relation to that project in respect of the month immediately preceding the month of the acquisition, and (ii) the predecessor’s return allowance in relation to that project in respect of the month immediately preceding the month of acquisition, and (b) the ratio that the share of the interest acquired by the successor bears to the share of the interest held by the predecessor immediately before the disposition. (2) The predecessor’s cumulative costs in a share in an interest in relation to a project in respect of the month of acquisition shall be reduced by the same amount determined for the successor in accordance with subsection (1). (3) If the amount calculated under subsection (1) or (5) exceeds the cost of the acquisition, the successor’s cumulative costs or allowed capital costs, as the case may be, in a share in an interest in relation to that project in respect of that month are the cost of the acquisition. (4) If the successor is currently an interest holder of a production licence in relation to a project and either the predecessor or successor has not reached the month of payout for their interest in the project, the cumulative costs, cumulative gross revenues and royalties payable for the acquired interests held by the successor in the project shall continue to be determined separately until all interests held by the successor in relation to the project have reached the month of payout. (5) If a share of an interest in relation to a project is acquired in a month after the month of payout, and the predecessor has allowed capital costs in that month by virtue of subsection 2(2), a portion of those allowed capital costs shall be allocated to the successor in proportion to the share of the interest being acquired, and the predecessor’s allowed capital costs in that month shall be commensurately reduced. (6) If a project is comprised of more than one production licence, and the successor’s interest in relation to a project does not include the interests or a share in the interests in all production licences held by the predecessor in relation to the project, the amounts to be allocated to the successor and predecessor, in accordance with subsections (1) to (3) and (5) shall be allocated on a reasonable basis. SOR/2008-96, s. 6