40. (1) Every person or partnership owning, possessing, controlling or operating, on 9 February 1918, any work or improvement of the nature of those to which sections 33 to 38 applies, must, within 15 months following the said date, furnish to the Minister of Natural Resources and Wildlife a plan and specifications showing the locality or localities in which such work or improvement is situated, its nature, and approximately the area of land, and the rights, either public or private, affected by the backing up of the water or otherwise, by reason of the existence of such works or improvement.
(2) On failure of the person above-mentioned to furnish the said plan and specifications within the prescribed time, the Minister of Sustainable Development, Environment and Parks may have the same prepared at the expense of such person.
(3) Within two months after the receipt or the preparation of such plan and specifications by the Minister of Sustainable Development, Environment and Parks, the person owning, possessing, controlling or operating such work or improvement must obtain from the Government, in consideration of an annual rental or other remuneration, a concession of the land or of the public rights which will be taken, occupied or affected.
(4) On failure of the person obliged thereto to obtain such concession within the above time, the Government may fix the remuneration which such person shall be bound to pay.
(5) Nevertheless the Government may always, if it deems it expedient, notwithstanding the expiration of the two months and the fixing of the remuneration mentioned in subsection 3 of this section, proceed to grant the concession of the said lands or public rights, as if the time had not expired or the remuneration had not been fixed.