Marginal note:Exploration agreements extant are continued

• 110. (1) Where an exploration agreement was entered into or negotiations in respect thereof were completed under the Canada Oil and Gas Act before the coming into force of this section, that exploration agreement shall, for the purposes of this Act, be referred to as an exploration licence and shall, subject to this Act, have effect in accordance with its terms and conditions.

• Marginal note:Production licences extant

  (2) Where a production licence was granted under the Canada Oil and Gas Act and is in force on the coming into force of this section, it shall be deemed to be a production licence issued under this Act on the coming into force of this section and is subject to this Act.

• Marginal note:Declarations of significant discovery continued

  (3) Where a declaration of significant discovery was made under section 45 of the Canada Oil and Gas Act and is in force on the coming into force of this section, it continues in force as if it was made pursuant to section 28 of this Act.

• Marginal note:Deemed significant discovery licences

  (4) Where, on the coming into force of this section, an exploration agreement is continuing in force pursuant to subsection 17(4) of the Canada Oil and Gas Act, it shall be deemed to be a significant discovery licence issued under this Act on the coming into force of this section and is subject to this Act.

Marginal note:Replacement of rights

• 111. (1) Subject to section 110 and subsections 112(2) and 114(4) and (5), the interests provided for under this Act replace all petroleum rights or prospects thereof acquired or vested in relation to frontier lands prior to the coming into force of this section.

• Marginal note:No compensation

  (2) No party shall have any right to claim or receive any compensation, damages, indemnity or other form of relief from Her Majesty in right of Canada or from any servant or agent thereof for any acquired, vested or future right or entitlement or any prospect thereof that is replaced or otherwise affected by this Act, or for any duty or liability imposed on that party by this Act.

Marginal note:Regulations continue in force

• 112. (1) The Canada Oil and Gas Land Regulations remain in force to the extent that they are consistent with this Act until they are revoked or replaced by regulations made under this Act.

• Marginal note:Former interests

  (2) All interests provided by the Canada Oil and Gas Land Regulations that are in force on the coming into force of this section continue in force subject to sections 113 to 116.

• (3) to (7) [Repealed, 1991, c. 10, s. 20]