Long Term Royalty Agreements Regulation

B.C. Reg. 77/2015
O.C. 265/2015

Deposited May 19, 2015

This consolidation is current to January 14, 2025.

Petroleum and Natural Gas Act

Long Term Royalty Agreements Regulation

Definition

1 In this regulation, "Act" means the Petroleum and Natural Gas Act.

Term

2 An agreement referred to in section 78.1 (1) of the Act may not exceed a term of 30 years.

Approval not required

3 A class of agreements prescribed for the purposes of section 78.1 (2) of the Act is the class of agreements that includes terms respecting all of the matters described in paragraphs (a), (b), (d), (e) and (f) of section 78.1 (4).

[Provisions relevant to the enactment of this regulation: Petroleum and Natural Gas Act, R.S.B.C 1996, c. 361, s. 78.1]