Bill 53 (Legislature 12, Session 1)

L12 S1 6721

Alberta — Bills

Bill No. 53 of A BILL TO AMEND THE OIL AND GAS RESOURCES CONSERVATION ACT, 1950 NOTE This Bill amends The Oil and Gas Resources Conservation Act, 1950, being ehapter of the Statutes of Alberta, 1950.

Section requires that an applicant for a well license to drill a well "within" a spacing unit must have or be entitled to eertain drilling and prodiueing rights. At times an appli cant m,ay desire to drill "into" the spacing unit and the amendment to subse'ction (1) is for the purpose of having the

section apply to such an applicant. S.ection 59, subsection (4) prescribes a minimum amount for the tax to be paid by the owner 'Of oil and gas property. By amendment the m,inimum is iuereased from one to three dollars. Minor amendments are m,ade to sections and for the purpose of clarification. This Bill comes into force upon assent. J. W. RYAN, Acting Le,gislative Counsel. (This note does not form any part of the Bill but is offered in explanation of its provisions.) BILL No. 53 of

An Act to am'end The Oil and Gas Resources Conservation Act, 1950 ( Assented to ,1953) HER MAJESTY, by and with the advice and consent of the Legislative Assembly of the Province of Alberta, enacts as follows: 1. The Oil and Gag Resources Conservation Act, 1950, being

chapter of the Statutes of Alberta, 1950, is hereby amended.

Section 20, subsection (1) is amended by striking out

Section the word "within" and by substituting the words "for the amended recovery of oil or gas from". 3.

(1) Section is amended by striking out the words

Section 59 "one dollar" wherever they occur in subsection (4) and amended by substituting the words "three dollars".

(2) This

section is applicable to the tax levied in and subsequent years.

Section 75, subsection (1) is amended by striking out

Section the word "affected". amended

Section 95, subsection (1) is am,ended by striking out

Section the words "initiated by the owners" and by substituting the amended words "initiated by owners". 6. This Act comes into force on the day upon which it is ~oming assented to. mto force No. 53 FIRST SESSION TWELFfH LEGISLATURE ELIZABETH II BILL

An Act to amend The Oil and Gas Resources Conservation Act, 1950 Received and read the First time .................. . Second time ............. . Third time ....... . HON. MR. MANNING Title: 1953 (12th, 1st) Bill 53,

An Act to amend The Oil and Gas Resources Conservation Act, 1950

Document details

Collection	Alberta — Bills
Citation	L12 S1 6721
Type	bill
Volume / chapter	L12 S1 6721
Language	en
Format	json
Source	PROVINCIAL
Identifier	de5ac21152831ba65e600f570ec04824e6e65130

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