Directive 5.8 Transfer Conversion Credit Bank

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Important Changes (effective April 10, 2018)

Reserves of legacy claims: Assessment work credits that were in reserve and/or partially applied (not fulfilling the annual units of assessment work required) on a legacy claim before conversion, were moved into a temporary conversion bank on the central cell claim or central boundary claim, known as the “conversion bank claim” that resulted from the conversion of the legacy claim. Once the credits have been transferred from the conversion credit bank to a claim’s exploration reserve, the reserve can then be applied to the claim or allocated to contiguous claims by submitting a “Distribution of Approved Credits” to fulfill a claim’s required units of assessment work.
Mandatory requirements: The credits in the conversion bank may be transferred to the exploration reserve of any cell claim or boundary claim that 1) resulted from the same legacy claim as the conversion bank claim, and 2) is, at the time of the transfer, held by the same claim holder as the conversion bank claim. Note that all of the credits in the conversion credit bank must be transferred from the conversion bank claim before a number of transactions can take place on that claim, including; merging boundary claims and amalgamating cell claims.
Important deadline: The holder of a claim with conversion credits has until April 10, 2019 (one year after the conversion date) to transfer all conversion credits from the conversion bank. If the claim holder has not transferred all conversion credits by the deadline, the Minister will transfer the conversion credits in equal amounts to the exploration reserve of all cell claims and boundary cell claims that are still eligible for the transfer based on the mandatory requirements noted above.

To start a Transfer from the Conversion Credit Bank

The ‘Transfer Conversion Credit Bank’ component of the ‘Work Reporting’ menu is used to transfer credits from the conversion credits banks
Image 1:
The ‘Transfer Conversion Credit Bank’ component of the ‘Work Reporting’ menu is used to transfer credits from the conversion credits banks in MLAS.

Select ‘Work Reporting’ and ‘Transfer Conversion Credit Bank’ from left menu to transfer credits from the conversion bank to the reserve of unpatented cell claims that resulted from the conversion of the legacy claim (see Image 1).

  1. Enter Claim ID

Creation of a transfer of conversion credits
Image 2:
Creation of a transfer of conversion credits in MLAS.

  • Enter User Information
    • Identify the person or company for whom you are making the transfer by entering that person’s or company’s client ID number, or the person’s or company’s name (number 1 on Image 2).
  • Enter Claim
    • Enter the claim number of the claim containing the conversion credit bank into the text box (number 2 on Image 2).
      Note: only one claim can be entered at a time.
  • Click ‘Dashboard’ (number 3 on Image 2) if you wish to cancel this transfer.
  • Click ‘Next’ (number 4 on Image 2) to proceed with the transfer and continue to the ‘Input Transfer Amount’ step.
  1. Input Transfer Amount

  • Enter Credit Reserve Table
    Credit Reserve table for a transfer of a conversion credit bank
    Image 3:
    Credit Reserve table for a transfer of a conversion credit bank in MLAS.
    • This table provides information pertinent to the conversion credit bank on the selected claim
      • The ‘Claim ID’ column (number 1 on Image 3) indicates the claim number that you entered in the previous ‘Enter Claim ID’ step.
      • The ‘Legacy Claim ID’ column (number 2 on Image 3) indicates the legacy claim number from which the assessment work credit reserve originated from. 
      • The ‘Available Credit’ column (number 3 on Image 3) shows the assessment work credits available to be transferred from the conversion bank claim listed in the ‘Claim ID’ column.
      • The ‘Current Credit Transferred’ column (number 4 on Image 3) will update as credits are transferred to other cell claims or boundary cell claims that resulted from the conversion of the legacy claim.
      • The ‘Net Balance’ column (number 5 on Image 3), is the difference between the ‘Available Credit’ and the ‘Current Credit Transferred’, and will also update as credits are transferred.
  • Distribution Table
    Conversion credit distribution table
    Image 4:
    Conversion credit distribution table in MLAS.
    • The Distribution Table lists:
      • The ‘Claim ID’ column (number 1 on Image 4) lists the Claim IDs of all cell claims and boundary claims that resulted from the conversion of the legacy claim.
      • The claims’ ‘Anniversary Dates’ (number 2 on Image 4).
      • The claims’ ‘Current Credit’ (number 3 on Image 4), which is the amount of assessment work credits that are already in the exploration reserve of the cell claim.
    • Enter the amount to be transferred from the Conversion Credit Bank into the ‘Amount’ column (number 4 on Image 4).
      • Only full dollar amounts can be transferred.
      • The amount to be transferred is determined by the claim holder and may vary from one claim to another.

Navigation buttons
Image 5:
Navigation buttons in MLAS.

  • Click ‘Back’ (number 1 on Image 5) if you wish to go back to the ‘Enter Claim ID’ step.
  • Click ‘Next’ (number 2 on Image 5) to proceed with the transfer and move to the ‘Summary’ step.
  1. Summary

  • Review the Summary.

Navigation buttons
Image 6: Navigation buttons in MLAS.

  • Click ‘Back’ (number 1 on Image 6) if you wish to go back to the ‘Input Transfer Amount’ step.
  • Click ‘Confirm’ (number 2 on Image 6) to submit the Transfer of Conversion Credit Bank and move to the ‘Confirmation’ step.
  1. Confirmation

Confirmation of the transfer of a conversion credit bank
Image 7:
Confirmation of the transfer of a conversion credit bank in MLAS.

  • You have successfully completed a Transfer of Conversion Credit Bank (number 1 on Image 7).

Navigation button in MLAS to go back to the Dashboard.
Image 8:
Navigation button to go to the Dashboard in MLAS.

  • Click on ‘Dashboard’ at the bottom left of the screen (see Image 8) to go back to your Dashboard where a confirmation notice has been posted.