ST. JOHN’S, THURSDAY , MARCH 30, 2023 THE NEWFOUNDLAND AND LABRADOR GAZETTE EXTRAORDINARY

PART II PUBLISHED BY AUTHORITY NEWFOUNDLAND AND LABRADOR REGULATIONS NLR 15/23 NLR 16/23

NEWFOUNDLAND AND LABRADOR REGULATION 15/23 Proclamation bringing the Act into force (SNL2022 cF-27) under the Future Fund Act (O.C 2023-070) (Filed March 30, 2023) CHARLES THE THIRD, by the Grace of God of the United Kingdom, Canada and His Other Realms and Territories KING, Head of the Commonwealth, Defender of the Faith. JUDY M. FOOTE Lieutenant Governor JOHN HOGAN, K.C. Attorney General TO ALL TO WHOM THESE PRESENTS SHALL COME, GREETING; A PROCLAMATION

WHEREAS in and by

section 14 of

An Act Respecting the Establishment of the Newfoundland and Labrador Future Fund, Statutes of Newfoundland and Labrador 2022

Chapter F-27 (the "Act"), it is provided that the Act comes into force on a day to be proclaimed by the Lieutenant-Governor in Council; AND

WHEREAS it is deemed expedient that the Act shall now come into force; NOW KNOW YE, THAT WE, by and with the advice of Our Executive Council of Our Province of Newfoundland and Labrador, do by this our Proclamation declare and direct that

An Act Respecting the Establishment of the Newfoundland and Labrador Future Fund, Statutes of Newfoundland and Labrador 2022

Chapter F-27, shall come into force on a date to be published in the Newfoundland and Labrador Gazette. OF ALL WHICH OUR L OVING SUBJECTS AND ALL OTHERS whom these Presents may concern are hereby required to take notice and to govern themselves accordingly. 3Extraordinary Gazette March 30, 2023

Proclamation bringing the Act into force under the Future Fund Act 15/23 IN TESTIMONY WHEREOF WE have caused these Our Letters to be made Patent and the Great Seal of Newfoundland and Labrador t o be hereunto affixed. WITNESS: Our trusty and well -beloved the Honourable Judy M. Foote , Member of Our Privy Council of Canada, Chancellor of the Order of Newfoundland and Labrador , Lieutenant Governor in and for Our Province of Newfoundland and Labrador. AT OUR GOVERNMENT HOUSE , this 28th day of March in the year of Our Lord two thousand and twenty-three, in the first year of Our Reign. BY COMMAND, JUDITH HEARN Deputy Registrar General 4 Extraordinary Gazette March 30, 2023

NEWFOUNDLAND AND LABRADOR REGULATION 16/23 Future Fund Regulations under the Future Fund Act (O.C. 2023-077) (Filed March 30, 2023) Under the authority of

section 11 of the Future Fund Act, the Lieutenant-Governor in Council makes the following regulations. Dated at St. John’s, March 29, 2023. Krista Quinlan Clerk of the Executive Council REGULATIONS Analysis 1.

Short title 2. Definition 3. Non-renewable resource royalties 4. Commencement 1. These regulations may be cited as the Future Fund Regulations. 2. In these regulations "Act" means the Future Fund Act. 3. The portion of non -renewable resource royalties required to be deposited into the fund under paragraph 4(2)(

b) of the Act shall be calculated as follows:

Short title Definition Non-renewable resource royalties 5 Extraordinary Gazette March 30, 2023

Future Fund Regulations 16/23 (a) 2% of the amount of non- renewable resource royalties received up to $250,000,000; (b) 5% of the amount of non- renewable resource royalties received that exceeds $250,000,000 but does not exceed $500,000,000; (c) 10% of t he amount of non -renewable resource royalties received that exceeds $500,000,000 but does not exceed $1,000,000,000; (d) 15% of the amount of non -renewable resource royalties received that exceeds $1,000,000,000 but does not exceed $1,500,000,000; (e) 25% of the amount of non -renewable resource royalties received that exceeds $1,500,000,000 but does not exceed $2,000,000,000; (f) 50% of the amount of non -renewable resource royalties received that exceeds $2,000,000,000 but does not exceed $2,500,000,000; and (g) 75% of the amount of non -renewable resource royalties received that exceeds $2,500,000,000. 4.

These regulations come into force on the date the Act comes into force. ©King's Printer Commencement 6 Extraordinary Gazette March 30, 2023

Extraordinary Gazette Index Title of Act and Subordinate Legislation made thereunder CNLR or NL Reg. Amendment NL Gazette Date & Page No. Future Fund Act Proclamation bringing Act into force NLR 15/23 New Mar. 30/23 p. 3 Future Fund Regulations NLR 16/23 New Mar. 30/23 p. 5 ST. JOHN’S, THURSDAY, MARCH 30, 2023 7