Canada Petroleum Resources Act (R.S.C., 1985, c. 36 (2nd Supp.))

Marginal note:Regulations

83 The Governor in Council may make regulations for carrying out the purposes and provisions of this Part and, without restricting the generality of the foregoing, may make regulations

• (a) prescribing the qualifications of members of the Board and prohibiting the appointment of persons as members of the Board who do not meet those qualifications;

• (b) prescribing, or prescribing the manner of selecting, persons or classes of persons from among whom members of the Board are to be appointed;

• (c) prescribing regions for the purposes of this Part; and

• (d) prescribing any other matter or thing that by this Part is to be prescribed.

PART VIIITransfers, Assignments and Registration

Interpretation

Marginal note:Definitions

• 84 (1) In this Part,

  assignment of security interest

  assignment of security interest means a notice of the assignment of a security interest or any part thereof in respect of which a security notice has been registered under this Part; (cession de sûreté)

  court

  court means, with respect to any frontier lands or any portion thereof, such superior court as may be prescribed and includes a judge thereof; (tribunal)

  Deputy Registrar

  Deputy Registrar means

  • (a) in relation to any area in respect of which the Minister of Natural Resources has administrative responsibility for the natural resources therein, such person as that Minister may designate, and

  • (b) in relation to any area in respect of which the Minister of Northern Affairs has administrative responsibility for the natural resources therein, such person as that Minister may designate; (directeur adjoint)

  discharge

  discharge means a notice of the discharge of a security notice or postponement and includes a partial discharge; (mainlevée)

  instrument

  instrument means a discharge, postponement, security notice, transfer or an assignment of a security interest; (acte)

  operator’s lien

  operator’s lien means any charge on or right in relation to an interest or a share in an interest

  • (a) that arises under a contract

    • (i) to which the interest owner or holder of the interest or share is a party,

    • (ii) that provides for the operator appointed thereunder to carry out any work or activity related to the exploration for or the development or production of petroleum in the frontier lands to which the interest or share applies, and

    • (iii) that requires the interest owner or holder to make payments to the operator to cover all or part of the advances made by the operator in respect of the costs and expenses of such work or activity, and

  • (b) that secures the payments referred to in subparagraph (a)(iii); (privilège de l’exploitant)

  postponement

  postponement means a document evidencing the postponement of a security notice or operator’s lien; (cession de priorité)

  Registrar

  Registrar means

  • (a) in relation to any area in respect of which the Minister of Natural Resources has administrative responsibility for the natural resources therein, such person as that Minister may designate, and

  • (b) in relation to any area in respect of which the Minister of Northern Affairs has administrative responsibility for the natural resources therein, such person as that Minister may designate; (directeur)

  secured party

  secured party means the person claiming a security interest under a security notice; (partie garantie)

  security interest

  security interest means any charge on or right in relation to an interest or a share in an interest that secures

  • (a) the payment of an indebtedness arising from an existing or future loan or advance of money,

  • (b) a bond, debenture or other security of a corporation, or

  • (c) the performance of the obligations of a guarantor under a guarantee given in respect of all or any part of an indebtedness referred to in paragraph (a) or all or any part of a bond, debenture or other security of a corporation,

  and includes a security given under section 426 of the Bank Act, but does not include an operator’s lien; (sûreté)

  security notice

  security notice means a notice of a security interest; (Version anglaise seulement)

  transfer

  transfer means a transfer of an interest or a share in an interest. (transfert)

• Marginal note:Assignees deemed secured parties

  (2) Where an assignment of security interest is registered under this Part, a reference in this Part to a secured party shall, in respect of the security notice to which the assignment of security interest relates, be read as a reference to the assignee named in the assignment of security interest.

Transfer and Assignment

Marginal note:Notice of disposition of any interest

85 Where an interest holder of an interest or any share therein enters into an agreement or arrangement that is or may result in a transfer, assignment or other disposition of the interest or any share therein, the interest holder shall give notice of the agreement or arrangement to the Minister, together with a copy of the agreement or arrangement or, if the Minister approves, a summary of its terms and conditions or, on the request of the Minister, a copy of the agreement or arrangement.

86 and 86.1 [Repealed, 1993, c. 47, s. 4]

Registration

Marginal note:Establishment of register

• 87 (1) A public register of all interests and instruments registered under this Part shall be established and maintained in accordance with this Part and the regulations.

• Marginal note:Duties of Registrar and Deputy Registrar

  (2) The Registrar and Deputy Registrar shall exercise such powers and perform such duties and functions in respect of the register and the system of registration established under this Part as may be prescribed.

Marginal note:Prohibition against registration of documents except instruments

• 88 (1) No document other than an interest or instrument may be registered under this Part.

• Marginal note:Requirements of registration

  (2) No instrument may be registered under this Part unless it has been submitted for registration in the form prescribed for that instrument, in such manner and containing such information as may be prescribed, and meets any other requirement for the registration thereof prescribed by this Act and the regulations.

89 [Repealed, 1993, c. 47, s. 5]

Marginal note:Requirements of registering security notice

• 90 (1) No security notice may be registered under this Part unless the security notice specifies

  • (a) the nature of the security interest claimed;

  • (b) the person from whom the security interest was acquired;

  • (c) the documents giving rise to the security interest; and

  • (d) such other particulars in respect thereof as may be prescribed.

• Marginal note:Notice of official address

  (2) No instrument may be registered under this Part unless a notice of official address for service in respect of that instrument is filed with the Registrar in prescribed form.

• Marginal note:Revision of notice of official address

  (3) The official address for service in respect of an instrument may be changed by filing with the Registrar another notice of official address for service, in prescribed form.

Marginal note:Security notice carries forward to new interest

91 Where a significant discovery licence or production licence is issued at any time in respect of frontier lands that were not Crown reserve lands immediately before that time, the registration under this Part of a security notice in respect of the interest in force immediately preceding the issuance of that licence and relating to such frontier lands applies in respect of the licence as though the security notice referred to that licence and as though that licence had been issued prior to the registration of the security notice.

Marginal note:Registration

• 92 (1) Every document submitted for registration under this Part shall be examined by the Registrar and where the Registrar determines that the document is an instrument that meets all the requirements for the registration thereof prescribed by this Act and the regulations, the Registrar shall register the instrument in accordance with this Act and the regulations.

• Marginal note:Refusal to register

  (2) Where the Registrar refuses to register any document under this Part, the Registrar shall return the document to the person submitting the document for registration and provide that person with the reasons for the refusal.

• Marginal note:Memorandum of registration

  (3) An instrument is registered under this Part by the endorsement of a memorandum of registration on the instrument specifying the registration number of the instrument and the time and date of registration.

• Marginal note:Chronological order of receipt for registration

  (4) Instruments accepted for registration under this Part shall be registered in the chronological order in which such instruments are received by the Registrar.

Marginal note:Deemed notice

93 The registration of an instrument under this Part shall be deemed to constitute actual notice of the instrument to all persons as of the time of registration of the instrument and, in the case of a security notice, shall be deemed to constitute actual notice to all persons who may serve a demand for information under section 95 in respect of the security notice of the contents of the documents specified in the security notice.

Marginal note:Priority of rights

• 94 (1) Subject to subsections (2) and (5), any particular right, in relation to an interest or a share therein, in respect of which an instrument has been registered under this Part at any time has priority over and is valid against any other right, in relation to that interest or share,

  • (a) in respect of which an instrument may be registered under this Part,

    • (i) where the instrument was not so registered, or

    • (ii) where the instrument was so registered after that time,

    whether that other right was acquired before or after that particular right; or

  • (b) in respect of which an instrument may not be registered under this Part, acquired after that time.

• Marginal note:Transitional

  (2) Where any right in respect of which an instrument may be registered under this Part was acquired before the coming into force of this Part and an instrument in respect of that right is registered under this Part not later than one hundred and eighty days after the coming into force of this Part, the priority and validity of that right shall be determined as though the instrument was registered under this Part at the time the right was acquired and as though this Part was in force at that time.

• Marginal note:Idem

  (3) Notwithstanding subsection (2), no right in respect of which that subsection applies shall have priority over and be valid against any other right in respect of which that subsection applies but in respect of which an instrument is not registered within the period referred to in that subsection, where the person claiming the right in respect of which an instrument is registered within that period acquired that right with actual knowledge of the other right.

• Marginal note:Idem

  (4) No instrument in respect of any right to which subsection (2) applies shall be registered unless it is accompanied by the statutory declaration, in prescribed form, of the person claiming that right, attesting to the time at which that right was acquired.

• Marginal note:Operator’s lien

  (5) An operator’s lien, in relation to an interest or share therein, shall, without registration of any document evidencing the operator’s lien, have priority over and be valid against any other right, in relation to that interest or share, in respect of which an instrument may be registered under this Part, whether an instrument in respect of that other right was registered before or after the acquisition of the operator’s lien or the operator’s lien was acquired before or after that other right, unless the operator’s lien is postponed with respect to such other rights by the registration under this Part of a postponement in respect of the operator’s lien and a discharge in respect of that postponement has not been registered under this Part.

Marginal note:Demand for information

• 95 (1) A person may, in accordance with this section, serve a demand for information in respect of a security notice that has been registered under this Part in relation to an interest or a share therein where that person

  • (a) is the holder of that interest or share;

  • (b) is specified in the security notice as the person from whom the security interest was acquired;

  • (c) is the secured party under another security notice registered under this Part in relation to that interest or share;

  • (d) is a member of a class of persons prescribed by the regulations for the purposes of this subsection; or

  • (e) obtains leave to do so from a court having jurisdiction in respect of the frontier lands subject to that interest or share.

• Marginal note:Contents of demand notice

  (2) A demand for information, in respect of a security notice, may be served pursuant to subsection (1) by serving on the secured party under the security notice a demand notice, in prescribed form, requiring the secured party

  • (a) to inform the person serving the demand notice, within fifteen days after service of the notice, of the place where the documents specified in the security notice or copies thereof are located and available for examination, and of the normal business hours during which the examination may be made; and

  • (b) to make those documents or copies thereof available for examination at that place during normal business hours, by the person serving the notice or by a person authorized by him, within a reasonable period after the demand notice is served.

• Marginal note:Service

  (3) A demand for information is served for the purposes of this section if it is sent by registered mail or delivered to the official address for service in respect of the security notice according to the records of the Registrar.

• Marginal note:Compliance with demand

  (4) A demand for information served pursuant to subsection (1) may be complied with by mailing or delivering to the person serving the demand notice a true copy of the documents referred to in the demand notice.

• Marginal note:Court order where failure to comply

  (5) Where a secured party fails without reasonable excuse to comply with a demand for information in respect of a security notice in relation to an interest or share therein served on the secured party in accordance with this section, a court having jurisdiction in respect of the frontier lands to which the interest or share applies may, on application by the person who served the demand notice, make an order requiring the secured party to comply with the demand for information within the time and in the manner specified in the order.

• Marginal note:Where failure to comply with court order

  (6) Where a secured party fails to comply with an order of a court made under subsection (5), the court may, on the application of the person who applied for the order,

  • (a) make any other order the court considers necessary to ensure compliance with the order made under subsection (5); or

  • (b) make an order directing the Registrar to cancel the registration of the security notice.

• Marginal note:Definition of “document”

  (7) In this section, document includes any amendment to the document.