Written By Eden Oliver, Richard Stone, and Sharon Singh
Natural Resources Canada (NRCan) is calling for those entities required to report under the Extractive Sector Transparency Measures Act (ESTMA) to enrol for an ESTMA identification number by submitting a Contact Form to NRCan by email here before June 30, 2016. Those entities required to report for their first financial year that started after June 1, 2015 must enrol by this deadline.
The identification number is required for all future correspondence with NRCan, including the submission of annual ESTMA reports. Each entity required to report must have an identification number, even if a parent will be filing a consolidated report that includes its report. First annual reports must be posted on the reporting entity's website and submitted to NRCan within 150 days after its financial year end. Failure to meet ESTMA's reporting obligations is an offence punishable by a fine of up to $250,000 for every day the offence continues.
Please click here to learn more about who is required to report and further information about ESTMA.
Please note that this publication presents an overview of notable legal trends and related updates. It is intended for informational purposes and not as a replacement for detailed legal advice. If you need guidance tailored to your specific circumstances, please contact one of the authors to explore how we can help you navigate your legal needs.
For permission to republish this or any other publication, contact Amrita Kochhar at kochhara@bennettjones.com.
Bennett Jones