Oak Island Act

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n4N224CCW:
For those dreaming of or ever wanting to dig for treasure below Oak Island, there are now new rules to follow.

The previous Treasure Trove Licence has been repealled for the entire Province of Nova Scotia.

Treasure hunting will still be permitted for Oak Island. As on 1 January 2011 the new Oak Island Act comes into effect. You can read this new Act at the following:

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Those already in possession of an old TTL for Oak Island are automatically extended until 31 December 2011. One new rule which will benefit treasure hunters is for the possibility of licence renewal by the Minister of Natural Resources. The old TTL did not provide for this renewal and forced treasure hunters to reapply.

Enjoy

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n4N224CCW

hardluck:
Hello n4N224CCW

Thank you for the interesting post I am a little amazed that they have not stopped treasure hunting there altogether. However I think there are more interesting places to explore around that part of the world.

Hardluck

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Karl:
"The Minister may, from time to time, issue a licence to any person granting to
that person the right on all or any part of Oak Island, as specified in the licence, to search for
treasure and to recover and retain the same upon the payment to the Minister of a royalty at such
rate as the Minister may prescribe."

So this Minister is basically writing a Licence for royalty at pretty much any rate he want??
and who is watching this so called minister to make sure he doesnt rip off the treasure hunter??
Seems very vague to me.

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n4N224CCW:
Hardluck,

Plenty of interesting places to look for treasure in Nova Scotia, but our Treasure Trove Licence has been repealed. How this new process or the authority to do such activities in NS (other than Oak Island) is unknown. You can bet our NS Museum will be heavily involved with Heritage Research Permits etc.

kberndt,

The traditional royalty for Oak Island under the old TTL has been 10%. What this royalty might be in the future is unknown but can be different for each applicant. While the authority might fall under the Minister, the actual approval and royalty has traditionally been set by our Executive Council. Treasure hunting on Oak Island has been a government game since written permission was first granted in 1849.

Will future royalties be so high to make treasure hunting non-profitable? Thus far and as far as we know, no treasure has ever been found below Oak Island, thus all efforts to date have been a financial loss for the treasure hunters.

For some many decades now, the search has not about getting rich for individuals or investors, but rather proving something.

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hardluck:
Hello n4N224CCW

 It was a high price indeed to pay to hunt in a barren hole.

Hardluck

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Karl:
Erin Bennett Banks is the artist behind this wonderful painting inspired by the Oak Island mystery

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Woodie:
It appears that governmental agencies all over are trying to hamper treasure and relic hunting by loading on bureaucratic regulations.  It seems that a supportive role would be more advantageous to governments, museums and historical agencies. 

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