Fort Nelson Indian Reserve Minerals Revenue Sharing Act — F-31.4 6
6 COAL, PETROLEUM AND NATURAL GAS — REVENUE SHARING (1) The ownership, administration, control and power of disposition of coal, Petroleum and Natural Gas underlying the Reserve are vested in the Province and all claims and rights thereto shall be subject to the laws of the Province save as herein provided. (2) The Province shall continue to collect all revenue from the disposition in any manner of coal, Petroleum and Natural Gas underlying the Reserve and the claims and rights thereto, whether by way of purchase money, rent, royalty, license, drilling reservation, permit or recording fees or otherwise, and whether directly or through an agent of the Crown in right of the Province in accordance with the law from time to time in force; but this shall not include any revenue derived from disposition of the surface of the Reserve. (3) The net profit and gross revenue from the disposition of coal, Petroleum and Natural Gas underlying the Reserve and all claims and rights thereto shall be shared equally between Canada for the use and benefit of the Band, and the Province. (4) The net profit and gross revenue from the disposition of coal and Petroleum and all claims and rights pertaining to the equal sharing thereof shall be determined by agreement between Canada and the Province as and when required, and failing agreement, equal sharing in accordance with subparagraph (3) hereof shall be determined by arbitration as provided in paragraph 12 hereof. (5) The net profit and gross revenue from the disposition of Natural Gas and all claims and rights pertaining to the equal sharing thereof in accordance with subparagraph (3) hereof shall be determined in the manner hereinafter provided. (6) The Province shall pay to Canada for the use and benefit of the Band the sum of $4,329,377.00 as hereinafter provided, in full satisfaction of all claims, rights and demands, if any, which Canada may have either in its own right or for the use and benefit of the Band: (a) in, to, or in respect of the Subject Minerals as reduced to possession, or (b) for any moneys whatsoever connected with the exploration, development, production, leasing or in any way disposing of or dealing with the Subject Minerals before eight A.M. (P.S.T.) January 1, 1977. (7) No interest shall be payable to Canada in its own right or for the use and benefit of the Band in respect of the said sum of $4,329,377.00 prior to the date of execution of this Agreement. (8) The said sum of $4,329,377.00 shall be paid by the Province to Canada for the use and benefit of the Band forthwith upon the execution of this Agreement. (9) The Province shall pay to Canada, for the use and benefit of the band, in full satisfaction of all claims, rights and demands, if any which Canada may have either in its own right or for the use and benefit of the Band (a)(i) in, to, or in respect of the Subject Minerals as reduced to possession, or (ii) for any moneys whatsoever connected with the exploration, development, production, leasing or in any way disposing of or dealing with the Subject Minerals, from eight A.M. (P.S.T.) January 1, 1977, to eight A.M. (P.S.T.) on the date of execution of this Agreement, one-half of all moneys received by the Province in each Production Month, after eight A.M. (P.S.T.) January 1, 1977 to the date of execution of this Agreement in respect of (b)(i) the net profit derived from the disposition of Natural Gas underlying the Reserve, (ii) the amounts (hereinafter called “gross revenue”) received by the Province on any disposition of any interest by the Province with respect to Petroleum and Natural Gas underlying lands included in the Reserve, in accordance with the Petroleum and Natural Gas Act , S.B.C., 1965, c. 33 notwithstanding that surface rights in the said lands may be vested in the Province, any other person, or in Canada other than for the use and benefit of the Band (such interest including permits, licences, drilling reservations and leases or otherwise and all