Definition(s)

Operator’s Lien

“Operator’s lien” means any charge on or right in relation to an interest or a share in an interest

1. that arises under a contract

    1. to which the interest owner or holder of the interest or share is a party,
    2. that provides for the operator appointed thereunder to carry out any work or activity related to the exploration for or the development or production of petroleum in the frontier lands to which the interest or share applies, and
    3. that requires the interest owner or holder to make payments to the operator to cover all or part of the advances made by the operator in respect of the costs and expenses of such work or activity, and

2. that secures the payments referred to in subparagraph (a)(iii); privilège de l’exploitant.

Source: Canada-Nova Scotia Offshore Petroleum Resources Accord Implementation Act, S.C. 1988, c. 28, Canada, current to May 26, 2013. Legislation

Source:  Canada Petroleum Resources Act, R.S.C. 1985, c. 36 (2nd Supp.), current to April 29, 2013. Legislation

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