View PDF version

Bulletin 2008-22

May 15, 2008

New Security Deposit Directive Issued

The Energy and Resources Conservation Board (ERCB) announces the release of Directive 068: Security Deposits.

This directive updates and consolidates the liability management security deposit requirements currently contained in three existing documents: Interim Directive (ID) 2001-1: Security Deposits, Directive 006: Licensee Liability Rating (LLR) Program and Licence Transfer Process, and Directive 024: Large Facility Liability Management Program and is effective immediately.

ID 2001-1 is hereby rescinded, and the generic security deposit provisions currently contained in Directive 006 and Directive 024 will be removed upon their revision. Only program-specific security deposit provisions will remain in these two directives.

In addition to clarifying ERCB requirements for security deposits, Directive 068 provides additional information on their use and refund, as well as permitting the amendment of letters of credit and the acceptance of letters of credit from Alberta-based credit unions.

Any inquires regarding this directive should be directed to Camille Sojer at 403-297–4875 or Hugh Bourgeois at 403-297–4205.

<original signed by>

D. K. Boyler, P.Eng.
Executive Manager
Compliance, Environment, and Operations Branch