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ARTICLE · 02 SEPTEMBER 2015

Key Elements Of The Extractive Sector Transparency Measures Act (Canada)

Miller Thomson
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On June 1, 2015, the Extractive Sector Transparency Measures Act (Canada) (the "Act") came into force.

CanadaCorporate/Commercial Law
Rina Jaswal
Rina Jaswal
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On June 1, 2015, the Extractive Sector Transparency Measures Act (Canada) (the "Act") came into force. The Government of Canada enacted the Act in an effort to contribute to anti-corruption efforts through the implementation of reporting and transparency measures in the extractive sector. These rules are intended to be comparable to those being implemented in the United States and the European Union.

The Act applies to any entity engaged in the commercial development of oil, gas or minerals in Canada or elsewhere. The Act defines "entity" as a corporation or a trust, partnership or other unincorporated organization: (a) that is engaged in the commercial development of oil, gas or minerals in Canada or elsewhere; or (b) that controls a corporation or a trust, partnership or other unincorporated organization that is engaged in the commercial development of oil, gas or minerals in Canada or elsewhere. An entity is engaged in the "commercial development of oil, gas or

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