Industrial Benefits are the economic benefits and opportunities that arise from petroleum resource activities in the Nova Scotia offshore area. The Accord Acts require an Operator to have an approved Canada-Nova Scotia Benefits Plan prior to the authorization of any work or activity or the approval of any development plan.
The Benefits Plan documents an Operator’s commitment to providing opportunities for residents of Canada, and particularly Nova Scotia, to participate in the work or activity for which the Benefits Plan has been submitted. Section 45 of the Accord Acts outlines specific requirements that an Operator must commit to within its Benefits Plan.
- Full and fair opportunity for manufacturers, consultants, contractors and service companies in Nova Scotia, and other parts of Canada, to participate on a competitive basis in the supply of goods and services used in any proposed work or activity referred to in the Benefits Plan.
- The establishment of an office in the Province where appropriate levels of decision-making are to take place.
- Residents of the Province are given first consideration for training and employment in the work or activity for which the Benefits Plan is being submitted.
- The development and implementation of an education & training and research & development expenditure program in the Province related to petroleum resource activities in the offshore area.
- First consideration is given to services provided from within the Province, and to goods manufactured in the Province, where those services/goods are competitive in terms of fair market price, quality and delivery.
In addition, provisions may be required to ensure that disadvantaged individuals or groups have access to training, employment and procurement opportunities related to the underlying work or activity of the Benefits Plan.
The Board revised its Canada-Nova Scotia Benefits Plan Guidelines in 2011 to better assist Operators in the preparation of a Benefits Plan.
The Board’s key accountability for Canada-Nova Scotia employment and industrial benefits is to assess Canada-Nova Scotia Benefits Plans, and monitoring resulting activities, for compliance with applicable regulatory requirements and operator commitments.