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Crown Share Adjustment Payments for Nova Scotia Offshore Petroleum Resources (Statutory)

General information
Name of transfer payment program Crown Share Adjustment Payments for Nova Scotia Offshore Petroleum Resources (statutory)
End date Ongoing
Type of transfer payment Contribution
Type of appropriation Statutory authority
Link to department’s Program Inventory Statutory Offshore Payments
Main objective The Minister of Natural Resources makes the Crown Share Adjustment Payments to the Province of Nova Scotia from the Consolidated Revenue Fund under sections 246 to 249 of the Canada-Nova Scotia Offshore Petroleum Resources Accord Implementation Act (the Act). In effect, the Act requires NRCan to pay Nova Scotia the equivalent financial benefit to what Nova Scotia would have received had the federal government taken an interest in offshore projects and had Nova Scotia also been able to exercise its Crown Share right under the 1982 Agreement.
Planned spending in 2018-19 $438,281
Fiscal year of last completed evaluation Not applicable
Fiscal year of planned completion of next evaluation (if applicable) Not applicable
General targeted recipient groups Other levels of government

*This date relates to the expiry date of the program policy authority which may be different from the actual funding end date.

 

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