Reminder: June 30 Deadline to Enrol under the Extractive Sector Transparency Measures Act

In preparation for the upcoming reporting obligations under the Extractive Sector Transparency Measures Act (ESTMA), Natural Resources Canada (NRCan) is now mandating that entities required to report under ESTMA submit the Contact Form to NRCan by email to enrol for an ESTMA identification number.

Under the new Guidance Document and Technical Reporting Specifications published by NRCan in March, an ESTMA identification number is required for all future correspondence with NRCan, including the submission of annual ESTMA reports. This requirement applies to each reporting entity, including parent entities and subsidiaries that qualify as reporting entities under ESTMA, even where the parent entity will be submitting a consolidated report on behalf of its subsidiary entities.

The first annual reports under ESTMA must be posted online and submitted to NRCan within 150 days after the financial year end (i.e, for entities with a December 31, 2016 year-end, the first report must be disclosed by May 30, 2017).

For more information on the reporting requirements under ESTMA, including whether an entity is subject to reporting obligations, see our bulletin New "Publish What You Pay" Guidance from Natural Resources Canada and NRCan website.

To discuss these issues, please contact the author(s).

This publication is a general discussion of certain legal and related developments and should not be relied upon as legal advice. If you require legal advice, we would be pleased to discuss the issues in this publication with you, in the context of your particular circumstances.

For permission to republish this or any other publication, contact Janelle Weed.

© 2017 by Torys LLP.
All rights reserved.

Tags: