Prompt Payment and Construction Lien (Prescribed Persons, Entities and Project Agreements) Regulation

(no amdt) ALBERTA REGULATION 122/2023 Prompt Payment and Construction Lien Act PROMPT PAYMENT AND CONSTRUCTION LIEN (PRESCRIBED PERSONS, ENTITIES AND PROJECT AGREEMENTS) REGULATION Prescribed persons, entities and project agreements 1 (1) For the purpose of section 1.1(3) of the Act, subject to subsection (2), the 31‑day limitation required under section 32.1(6) of the Act does not apply to (a) the person or entity, whether incorporated or not, that enters into a project agreement to finance and undertake an improvement, and (b) the project agreements to finance and undertake an improvement listed in the Schedule. (2) For the purpose of subsection (1), a project agreement referred to in subsection (1)(a) and (b) must (a) be directly connected to the financing or undertaking of an improvement that includes capital expenditures of at least $5 000 000 000, (b) contribute to significant job creation and economic growth, and (c) demonstrate (i) the commercialization of technologies that assist in the environmentally sustainable development of oil or natural gas resources, or (ii) the use of technologies that reduce the emission of greenhouse gases in industrial applications to maintain the economic competitiveness of the Province. Expiry 2 For the purpose of ensuring that this Regulation is reviewed for ongoing relevancy and necessity, with the option that it may be repassed in its present or an amended form following a review, this Regulation expires on October 31, 2033. Schedule (section 1) Person or Entity Project Agreement 1 Dow Chemical Canada ULC in relation to the Path2Zero Expansion Project Any project agreement between Dow Chemical Canada ULC and a contractor for the provision of materials or work done for the construction and installation of Dow Chemical Canada ULC’s Path2Zero Expansion Project