Canada - Oil & Gas

摘要

New Canadian Resource Revenue Transparency Law In Effect Overview On June 1, 2015, the Extractive Sector Transparency Measures Act {ESTMA), S.C. 2014, c. 39, s. 376, came into effect. This new federal legislation imposes mandatory reporting requirements on certain entities engaged in the "commercial development of oil, gas or minerals," which includes exploration, extraction, and holding permits to do so. See id. §§ 2, 9. No regulations have yet been prescribed under the ESTMA, but in August 2015, Natural Resources Canada released draft guidance, technical reporting specifications, and a template reporting form.