Crown-acquired Lease Royalty Exemption Regulations, F-13.4 Reg 31

1 CROWN-ACQUIRED LEASE ROYALTY EXEMPTION F-13.4 REG 31 The Crown-acquired Lease Royalty Exemption Regulations being Chapter F-13.4 Reg 31 (effective January 1, 2009). NOTE: This consolidation is not official. Amendments have been incorporated for convenience of reference and the original statutes and regulations should be consulted for all purposes of interpretation and application of the law. In order to preserve the integrity of the original statutes and regulations, errors that may have appeared are reproduced in this consolidation. 2 CROWN-ACQUIRED LEASE F-13.4 REG 31 ROYALTY EXEMPTION Table of Contents 1 Title 2 Interpretation 3 Exemption 4 Coming into force 3 CROWN-ACQUIRED LEASE ROYALTY EXEMPTION F-13.4 REG 31 CHAPTER F-13.4 REG 31 The Financial Administration Act, 1993 Title 1 These regulations may be cited as The Crown-acquired Lease Royalty Exemption Regulations. Interpretation 2 In these regulations: (a) “acquired oil and gas rights” means the oil and gas rights that were vested in the Crown in right of Saskatchewan by virtue of section 27 of The Oil and Gas Conservation, Stabilization and Development Act; (b) “lease” means a lease that was associated with acquired oil and gas rights immediately before the vesting of those rights in the Crown in right of Saskatchewan and includes: (i) a profit-à-prendre or agreement giving the right to take any of the acquired oil or gas rights with respect to which a caveat has been filed; or (ii) an interest in a lease as defined in this clause or in a profit-à-prendre or agreement mentioned in subclause (i); (c) “lessee” means the lessee pursuant to a lease; (d) “oil and gas rights” includes any share or interest in oil and gas rights; (e) “royalties” mean royalties payable by the lessee pursuant to a lease. 21 Nov 2008 cF-13.4 Reg 31 s2. Exemption 3 With respect to the oil and gas produced on or after March 1, 1998 under a lease, the lessee is exempt from liability to pay royalties otherwise payable on or after March 1, 1998 and before the day on which these regulations come into force. 21 Nov 2008 cF-13.4 Reg 31 s3. Coming into force 4(1) Subject to subsection (2), these regulations come into force on the day on which section 1 of The Crown Minerals Amendment Act, 2007 comes into force. (2) If section 1 of The Crown Minerals Amendment Act, 2007 comes into force before these regulations are filed with the Registrar of Regulations, these regulations come into force on the day on which they are filed with the Registrar of Regulations. 21 Nov 2008 cF-13.4 Reg 31 s3. 4 CROWN-ACQUIRED LEASE F-13.4 REG 31 ROYALTY EXEMPTION REGINA, SASKATCHEWAN Printed by the authority of THE QUEEN’S PRINTER Copyright©2008