Sure.
The legislation provides for the requirement of a $100 million deposit per project. There are four in Newfoundland and Labrador and there are two in Nova Scotia. There will be other projects that get under way as they move, potentially, to exploratory stages.
In each instance the primary operator needs to register a deposit. We've provided a potential option for industry to provide efficiency for management of its capital and for resources by suggesting that we would accept and regulators would accept in the legislation a pooled fund of at least $250 million. If two or three companies pooled their resources and registered the same $250 million fund with the regulator, it'll be accepted as the deposit. In doing so, it comes with certain conditions that the fund be replenished if ever used, that it's directly accessible by the regulator, that it is segregated and real, and that it's not used as an exclusionary tool.
We've provided a way, and in some instances there are companies who operate in more than one part of the country, in Nova Scotia, in Newfoundland and Labrador, and potentially up in the Arctic. We've accepted that one deposit would accept across the jurisdictions; whereas if it's a deposit, it's per project per jurisdiction. We've tried to create a flexible instrument, but by the same token preserve the requirement and the policy need to have a deposit.