MONTREAL – The Canadian Extractive Sector Transparency Measures Act came into effect on June 1, 2015. It requires Canadian resource companies operating offshore to follow certain rules in order to fight corruption. It differs from anti-bribery legislation in that there are certain disclosure obligations. Companies affected by the Transparency Act must fulfil them.
Fortunately, Norton Rose Fulbright has published a handy list of companies to which the Act applies:
The Norton Rose review goes on to outline the draft guidance and technical specifications that must be met; the timeline for disclosure; and exemptions or substitutions. Reporting requirements under Quebec legislation are also noted.
Interested readers can download a PDF of the Norton Rose Fulbright review by clicking here. Contact and biographical information about the authors is also available.
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