OIC Number: 1999 - 447

Date of Order: Sep 22, 1999

Statute: Provincial Finance Act

OIC Text: The Governor in Council on the report and recommendation of the Minister of Finance and the Minister responsible for the Petroleum Directorate dated September 3, 1999, pursuant to Sections 2 and 17 of

Chapter 365 of the Revised Statutes of Nova Scotia, 1989, the Provincial Finance Act, is pleased to: (

a) designate as a special fund within the meaning of the Provincial Finance Act the Nova Scotia Market Development Initiative Fund for the purposes of the Nova Scotia Gas Market Development Initiative established by an Agreement dated June 22, 1999, and effective July 27, 1999, between Her Majesty the Queen in right of the Province of Nova Scotia and the Sable Offshore Energy Project Producers; (

b) deposit to the credit of the Nova Scotia Gas Market Development Initiative Fund all sums of money as provided in the said Agreement; and (

c) authorize payments from the Fund in such sums as the Minister responsible for the Petroleum Directorate deems appropriate for the purposes of the Fund as provided in the said Agreement.

Department(s): Finance Petroleum Directorate