Transparency Measures Mining, oil and gas

Under the Act respecting transparency measures in the mining, oil and gas industries (the "Act"), certain enterprises operating in these industries must declare certain payments made to certain payees. The purpose of the Act is to discourage and detect corruption, as well as foster the social acceptability of projects.

The Regulation respecting the application of the Act respecting transparency measures in the mining, oil and gas industries (the “Regulation”) came into force on August 3, 2017.

The Guidelines respecting the Act respecting transparency measures in the mining, oil and gas industries have been published on the web site of the ministère de l’Énergie et des Ressources naturelles This link will open in a new window.

The general framework for the application of administrative monetary penalties has been published by the Ministère de l’Énergie et des Ressources naturelle This link will open in a new window . Established under section 20 of the Act respecting transparency measures in the mining, oil and gas industries, the general framework specify the orientations and criteria guiding the application of the administrative penalties regime and penal proceedings.

The Ministère de l’Énergie et des Ressources naturelles is responsible for the application of the Act, but its administration has been conferred on the Autorité des marchés financiers (“AMF”).

We urge you to determine immediately whether you are subject to this new requirement. Please note that the Act provides for significant penalties for non-compliance.

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