Pooled fund

Pooled fund

139 (1) Subject to subsection (2), a company may meet all or a portion of its financial requirements under subsection 138(1) by participating in a pooled fund that is established by companies authorized under this Act to construct or operate a pipeline, that meets the requirements established by the regulations and from which the Regulator may withdraw any amount under subsection 141(6). (2) If a company meets only a portion of its financial requirements by participating in a pooled fund and the amount of funds in the pooled fund to which it has access — in the event that there is an unintended or uncontrolled release of oil, gas or any other commodity from a pipeline that the company is authorized under this Act to construct or operate — is less than the amount of financial resources referred to in subsection 138(1), the company must maintain an amount equal to the difference between those amounts. (3) The Governor in Council may, on the Minister’s recommendation, make regulations respecting a pooled fund referred to in subsection (1), including regulations specifying (a) the minimum amount of the pooled fund and the minimum amount of the pooled fund that must be readily accessible; (b) any condition that a company must meet in order to participate in the pooled fund, including the minimum amount that a company must contribute to the pooled fund; (c) the maximum amount that a company may withdraw from the pooled fund; and (d) the maximum portion of a company’s financial requirements that may be met by participating in the pooled fund.