Registration
requirement for mineral lease brokers repealed effective
July 1, 2007
Part XX of
The Securities Act, 1988 requires mineral lease brokers to be
registered. Mineral lease brokers are those who acquire oil and
gas interests from others. Part XX will be repealed effective
July 1, 2007, and mineral lease brokers and their agents will no
longer have to be registered.
Saskatchewan
has been the only jurisdiction to regulate mineral lease brokers
under securities legislation. It has been determined that the
public interest no longer requires that mineral lease brokers be
regulated. This is because there have been no enforcement issues
related to the activities of mineral lease brokers. As well
owners of mineral interests are more knowledgeable and have better
access to information than when the provisions first came into
force.
June 28, 2007
Contact:
Deputy Director, Legal and Registration
(306) 787 5879
