Update on Bill C-22 and Related Financial Requirements (COGOA)
On 26 February 2015, the Energy Safety and Security Act (ESSA or Bill C-22) received Royal Assent. ESSA amends the Canada Oil and Gas Operations Act (COGOA) and provides the National Energy Board with new tools for regulating Northern oil and gas activities within its jurisdiction.
Please see our Fact Sheet for more information on Bill C-22 as it relates to the NEB.
ESSA includes changes to some of the financial provisions under the COGOA. As a result, the NEB has decided to put its work on Financial Filing Requirements for NEB-authorized activities under the COGOA on hold until there is greater certainty around financial regulations and guidance pursuant to ESSA.
Please see the NEB’s letter to interested persons on this decision.
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