Mandatory disclosure of payments made to Aboriginal communities from companies in the oil, gas and mining sectors will likely soon become a reality. On October 23, 2014, the federal government tabled the Extractive Sector Transparency Measures Act as a measure under omnibus Bill C-43. If passed, the Bill will alter the current practice of confidential negotiated agreements between resource companies and Aboriginal communities about exploration and resource extraction in their traditional territories. The Bill would require extractive companies in Canada to begin reporting payments made to Aboriginal governments two years after the legislation comes into force.
Click here to read the full article.