Securities Law & Instruments

Headnote

Mutual Reliance Review System: Acceptance of American Institute of Professional Geologists as a "professional organization" under NI 51-101.

Applicable National Instrument

National Instrument 51-101 Standards of Disclosure for Oil and Gas Activities -- section 1.1(w)(iv)(B).

Citation

The American Institute of Professional Geologists, 2004 ABASC 1025

October 4, 2004

IN THE MATTER OF

THE SECURITIES LEGISLATION

OF BRITISH COLUMBIA, ALBERTA, SASKATCHEWAN, MANITOBA,

ONTARIO, NOVA SCOTIA, NEW BRUNSWICK,

NEWFOUNDLAND AND LABRADOR, YUKON,

NORTHWEST TERRITORIES AND NUNAVUT

AND

IN THE MATTER OF

NATIONAL INSTRUMENT 51-101 STANDARDS

OF DISCLOSURE FOR OIL AND GAS ACTIVITIES (NI 51-101)

AND

IN THE MATTER OF

THE MUTUAL RELIANCE REVIEW SYSTEM

FOR EXEMPTIVE RELIEF APPLICATIONS

AND

IN THE MATTER OF

THE AMERICAN INSTITUTE OF PROFESSIONAL GEOLOGISTS

(AIPG) AND ITS MEMBERS WHO ARE CERTIFIED

PROFESSIONAL GEOLOGISTS

 

MRRS DECISION DOCUMENT

Background

1. The local securities regulatory authority or regulator (the Decision Maker) in each of British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, Nova Scotia, New Brunswick, Newfoundland and Labrador, Yukon, Northwest Territories, and Nunavut (the Jurisdictions) has received the recommendation of the Canadian Securities Administrators staff committee responsible for NI 51-101 that the Decision Maker accept the AIPG as a "professional organization" under NI 51-101, but only for those members of AIPG who are AIPG Certified Professional Geologists in good standing (the Requested Relief).

2. Under the Mutual Reliance Review System for Exemptive Applications:

2.1 the Alberta Securities Commission is the principal regulator for this application, and

2.2 this MRRS Decision Document evidences the decision of each Decision Maker.

Interpretation

3. Defined terms contained in National Instrument 14-101 Definitions or in Appendix 1 of Companion Policy 51-101CP have the same meaning in this decision unless they are defined in this decision.

Representations

This decision is based on the following facts represented by AIPG:

4.1 the AIPG has provided copies of the AIPG's Bylaws, Code of Ethics, and Disciplinary Procedures that establish that, for AIPG members who qualify as Certified Professional Geologists, the AIPG

4.1.1 admits members primarily on the basis of their educational qualifications;

4.1.2 requires its members to comply with the professional standards of competence and ethics prescribed by the AIPG that are relevant to the estimation, evaluation, review or audit of reserves data; and

4.1.3 has disciplinary powers, including the power to suspend or expel a member.

Decision

5. Each of the Decision Makers is satisfied that the test contained in the Legislation that provides the Decision Maker with the jurisdiction to make the decision has been met.

6. The decision of the Decision Makers under the Legislation is that the Requested Relief is granted for so long as the AIPG continues to:

6.1 admit members as Certified Professional Geologists primarily on the basis of their educational qualifications;

6.2 require Certified Professional Geologists to comply with the professional standards of competence and ethics prescribed by the AIPG that are relevant to the estimation, evaluation, review or audit of reserves data; and

6.3 have disciplinary powers, including the power to suspend or expel a Certified Professional Geologist.

"Glenda A. Campbell, Q.C."
Vice-Chair
Alberta Securities Commission
 
"James A. Millard, Q.C."
Member
Alberta Securities Commission