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Goodmans Publications

Mandatory Payment Disclosure Rules Now in Force

June-3-2015

Area Corporate Finance and Securities, Mining and Natural Resources

Summary

The Government of Canada recently enacted the Extractive Sector Transparency Measures Act (the “Act”) which imposes new mandatory reporting standards for payments made by Canadian extractive companies (mining, oil and gas) to foreign and domestic governments, including Aboriginal entities. The Act solidifies Canada’s international commitment to deter and detect corruption and is intended to align the Canadian reporting requirements with those of the U.S. and EU.

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