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Energy Safety and Security Legislation Receives Royal Assent - Harper Government enhances offshore petroleum and nuclear lawsOTTAWA, Feb. 26, 2015 /CNW/ - The Honourable Greg Rickford, Canada's Minister of Natural Resources and Minister for the Federal Economic Development Initiative for Northern Ontario, today announced that the Energy Safety and Security Act has received Royal Assent. The Act will enhance safety and security in Canada's offshore petroleum and nuclear energy industries to ensure that Canadians continue to have a world-class regime that is accountable, responsive and transparent and works to prevent incidents. The legislation enshrines the "polluter pays" principle into law by implementing an absolute liability limit of $1 billion for offshore petroleum and nuclear companies. The federal government manages offshore oil and gas resources jointly with the Province of Newfoundland and Labrador and the Province of Nova Scotia in each Atlantic offshore area. Both provinces were key partners in developing the offshore petroleum elements of the new Act. The Government ofCanada will coordinate the Act's entry into force with these provinces. Quick Facts
Quotes "Our government is protecting Canadians and the environment while supporting jobs and growth by raising the liability limits for the offshore and nuclear industries. The passing into law of the Energy Safety and Security Act ensures that companies, not taxpayers, are held responsible in the event of an incident." Greg Rickford Follow us on Twitter: @NRCan (http://twitter.com/nrcan) NRCan's news releases and backgrounders are available at www.nrcan.gc.ca/media.
SOURCE Natural Resources Canada |