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AN ACT TO SUPPORT ORPHAN REHABILITATION

Bill 14

An Act To Support Orphan
Well Rehabilitation

Chapter 14

(Assented to June 7, 2017)

HER MAJESTY, by and with the advice and consent of the Legislative Assembly of Alberta, enacts as follows:

Amends RSA 2000 cO‑6

1   The Oil and Gas Conservation Act is amended by this Act.

 

2   Section 70(1) is amended by adding the following after clause (a):

                              (a.1)    to repay the principal and to pay interest and any other borrowing costs under a loan agreement entered into by a delegated authority established or designated under this Part for the purposes of conducting suspension, abandonment and reclamation in respect of orphan wells, facilities, facility sites and well sites;

 

3   The following is added after section 76.1:

Borrowing and advances

76.2   The President of Treasury Board, Minister of Finance may, on behalf of the Crown, make loans to a delegated authority established or designated by regulations made under this Part.