Bill 18 — First Session, 21St Legislature, 35 Elizabeth Ii the Legislative Assembly of Alberta Bill 18 Mines and Minerals Amendment Act, 1986 (Legislature 21, Session 1)

L21 S1 3204

Alberta — Bills

1986 BILL First Session, 21st Legislature, 35 Elizabeth II THE LEGISLATIVE ASSEMBLY OF ALBERTA BILL MINES AND MINERALS AMENDMENT ACT, 1986 THE MINISTER OF ENERGY First Reading Second Reading Committee of the Whole Third Reading Royal Assent Bill BILL 18 MINES AND MINERALS AMENDMENT ACT, 1986 (Assented to , 1986) HER MAJESTY, by and with the advice and consent of the Legislative Assembly of Alberta, enacts as follows: 1 The Mines and Minerals Act is amended by this Act. 2

Section 4.1 is repealed and the following is substituted: 4.1(1) In this section, "non-renewable resource revenue" has the meaning given to it by the Alberta Heritage Savings Trust Fund Act.

(2) If regulations under

section 5(l)(

k) authorize the payment of grants relating to the exploration for or recovery of a mineral, (

a) the grants shall be paid from the General Revenue Fund where there is no supply vote for the purpose, and (

b) unless the Treasury Board otherwise directs, the grants shall be (

i) applied to reduce non-renewable resource revenue, and (ii) deducted from the total amounts used to determine the transfers required to be made to the Alberta Heritage Savings Trust Fund pursuant to

section of the Alberta Heritage Savings Trust Fund Act or any Special Act re ferted to in that section, notwithstanding anything in those Acts.

(3) If regulations under

section 5(1 )(1) authorize the apphcation of credits relating to the exploration for or recovery of a mineral against the payment of money owing to the Crown in right of Alberta, the amounts of those credits shall be (

a) applied to reduce non-renewable resource revenue, and (

b) deducted from the total amounts used to determine the transfers required to be made to the Alberta Heritage Savings Trust Fund pursuant to

section of the Alberta Heritage Sav ings Trust Fund Act or any Special Act referted to in that section, notwithstanding anything in those Acts. 3 This Act is deemed to have come into force on April 1, 1986. Explanatory Notes This Bill will amend

chapter M-15 of the Revised Statutes of Alberta 1980. 2

Section 4.1 presently reads: 4.1(1) All money required to be paid pursuant to regulations under this Act providing for exploratory drilling incentive or geophysical incentive grants or credits shall be paid from the General Revenue Fund.

(2) The aggregate of all money paid or applied as a credit pursuant to regulations under this Act providing for exploratory drilling incentive or geophysical incentive grants or credits shall be (

a) applied by the Provincial Treasurer to reduce non-renewable re source revenue as defined in the Alberta Heritage Savings Trust Fund Act, and (

b) excluded from the total amounts used to determine the transfers required to be made to the Alberta Heritage Savings Trust Fund pur suant to

section of the Alberta Heritage Savings Trust Fund Act or any Special Act referred to in that

section and enacted before or after the commencement of this section, notwithstanding anything in those Acts. 3 Coming into force. Explanatory Notes Title: 1986 (21st, 1st) Bill 18, Mines and Minerals Amendment Act, 1986

Document details

Collection	Alberta — Bills
Citation	L21 S1 3204
Type	bill
Volume / chapter	L21 S1 3204
Language	en
Format	json
Source	PROVINCIAL
Identifier	a2179f186483bd6f8670efe36c0a101e9b698194

Source file is stored in the law ingest library (json).