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ARTICLE · 04 JUNE 2015

Update: Extractive Sector Transparency Measures Act Now In Force

Blake, Cassels & Graydon LLP
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The Extractive Sector Transparency Measures Act (ESTMA) came into force on June 1, 2015.

CanadaEnergy and Natural Resources
Mark Morrison
Mark Morrison
Michael Dixon
Michael Dixon
Roy Millen
Roy Millen
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The Extractive Sector Transparency Measures Act (ESTMA) came into force on June 1, 2015. ESTMA is designed to reduce international corruption by enacting reporting obligations with respect to payments made to foreign and domestic governments (and government officials), and eventually aboriginal or indigenous governments.

As set out in our November 2014 Blakes Bulletin: Extracting Transparency: New Bill Creates Mandatory Reporting Standards for Canada's Extractive Industries, ESTMA's reporting requirements apply to companies engaged in the development of oil, gas or minerals that are either (a) listed on a Canadian stock exchange or (b) have a place of business in Canada, do business in Canada or have assets in Canada, and which meet at least two of the following size thresholds:

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