One of the objectives of the Atlantic Accord is to “ensure that the Offshore Area is managed in a manner which will promote economic growth and development in order to optimize benefits accruing to Newfoundland [and Labrador] in particular and to Canada as a whole.”
An important aspect of the C-NLOPB’s mandate is the administration of provisions of Section 45 of the Atlantic Accord Implementation Acts which relate to industrial and employment benefits from the development of oil and gas resources in the Canada-Newfoundland and Labrador Offshore Area.
The Acts require that before any work or activity is authorized in the Offshore Area, a Canada-Newfoundland and Labrador Benefits Plan must be approved by the C-NLOPB. The C-NLOPB may waive the requirement for a Benefits Plan if it determines that a Plan is not required (example: minor amendment to a current Development Plan). The Acts require that a Benefits Plan specifically address: