Canada–Newfoundland and Labrador Atlantic Accord Implementation Act

Marginal note:Jointly established Board

• 9 (1) There is established by the joint operation of this Act and the Provincial Act a board to be known as the Canada-Newfoundland Offshore Petroleum Board.

• Marginal note:Change of name

  (1.1) The name of the Canada-Newfoundland Offshore Petroleum Board is changed to Canada–Newfoundland and Labrador Offshore Petroleum Board and the Canada–Newfoundland and Labrador Offshore Petroleum Board is deemed to have been established under subsection (1).

• Marginal note:References

  (1.2) A reference in any contract, document, instrument, proclamation, by-law or order in council to the Canada-Newfoundland Offshore Petroleum Board is, unless the context otherwise requires, to be read as a reference to the Canada–Newfoundland and Labrador Offshore Petroleum Board.

• Marginal note:Treated as Provincial entity

  (2) Subject to subsections (3) and (4), the Board shall for all purposes be treated as having been established by or under a law of the Province.

• Marginal note:Powers of corporation

  (3) The Board has the legal powers and capacities of a corporation incorporated under the Canada Business Corporations Act, including those set out in section 21 of the Interpretation Act.

• Marginal note:Dissolution of Board

  (4) The Board may be dissolved only by the joint operation of an Act of Parliament and an Act of the Legislature of the Province.