Final Guidance On Extractive Sector Transparency Measures Act – Get Ready To Enrol And Report

The Canadian Extractive Sector Transparency Measures Act (the ESTMA) was proclaimed into force on June 1, 2015 and requires businesses involved in the resource exploration and extractive sector in Canada or elsewhere to file and publish reports on certain types of payments made to both domestic and foreign governments.  For a discussion of the reporting obligations under the ESTMA and the types of payments required to be detailed in the report, please refer to our February 25, 2015 and June 1, 2015 Osler Updates.

On March 1, 2016, the Department of Natural Resources (NRCan) issued its finalized implementation tools for businesses required to comply with the ESTMA:

• Guidance [PDF] on the reporting requirements under the ESTMA;