Extractive Sector Transparency Measures Act (ESTMA)
CIM Vancouver 2016
Mr Clayton Norris (Vice President, Aboriginal Services - MNP LLP)
In order to contribute to global efforts of deterring corruption and promoting transparency in the oil and gas and mining industries, the Government of Canada enacted the Extractive Sector Transparency Measures Act (ESTMA) as part of the Economic Action Plan 2014. The act requires public disclosure of payments over $100,000 from oil, gas or mining companies to all foreign and domestic governments. Eventually, public disclosure of payments will also apply to Aboriginal governments. The act is not restricted to companies based in Canada, as international companies can be impacted if they have a place of business, do business or have assets in Canada that meet size thresholds.
Join us for an insightful conversation where Clayton Norris, Vice President of Aboriginal Services with MNP, will discuss how ESTMA may affect your business and relationship with Aboriginal entities. We will discuss the steps you can take to structure your business in a way that ensures proper reporting and compliance and explore alternatives to foster positive relationships with Aboriginal entities.