Recent updates to AER Directive 067: Deadline January 31, 2018.
The Alberta Energy Regulator (AER) recently revised Directive 067 and the requirements for Licensees to hold licences. Part of the new process involves submitting – by January 31, 2018 – current corporate information through Schedule 1. The Schedule 1 can be submitted via email to email@example.com.
In their update to Directive 067, released in December 2017, the AER outlined the requirements for existing holders of licence or approval must meet on an ongoing basis. The intent is to ensure that licence or approval holders continually meet licence eligibility requirements and that the AER has accurate information on file.
According to the AER revision, an updated schedule 1 must be provided within 30 days of any material change, and may result in AER revoking eligibility or restricting eligibility by imposing terms and conditions where, in its opinion, the change has resulted in an unreasonable risk.
Material changes include things such as:
- changes to legal status and corporate structure;
- addition or removal of a related corporate entity;
- amalgamation, merger, or acquisition;
- changes to directors, officers, or control persons;
- appointment of a monitor, receiver, or trustee over the licensee’s property;
- plan of arrangement or any other transaction that results in a material change to the operations of the licensee;
- the sale of all or substantially all of the licensee’s assets; or
- cancellation of insurance coverage.
The entire Directive 067 can be downloaded here.