22BPublic reporting—reporting by manager of joint venture

22B Public reporting—reporting by manager of joint venture

(1) Subsection (2) applies if: (a) a joint venture is a member of the registered corporation’s group; and (b) the participants in the joint venture have nominated a member of the group (the responsible entity) as the responsible entity for the joint venture for the purposes of subsection 8(5); and (c) a corporation (the operator) operates or manages the joint venture; and (d) the registered corporation’s approved assessment plan sets out, in accordance with paragraph 18(7A)(c), its intention to rely on this section in order to comply with its obligations under subsection 22(1); and (e) the operator prepares a report that describes the way in which the part of the proposal mentioned in paragraph 22(3)(a) relating to the joint venture was carried out during the period; and (f) the report is signed by the chief executive officer of the operator; and (g) the report includes a statement by the chief executive officer of the operator that the board of directors of the responsible entity has reviewed and noted the report. (2) If this subsection applies: (a) subsection 22A(1) applies in relation to the report prepared by the operator as if the operator were a member of the group; and (b) for the purposes of applying subsection 22A(1) in relation to the report prepared by the operator: (i) treat the reference in subsection 22(3) to the corporation as a reference to the operator; and (ii) treat references in subsection 22(3) to the proposal in the approved assessment plan of the registered corporation as references to the part or parts of that proposal to which the report relates; and (iii) disregard paragraphs 22(4)(b) and (c).