Only occasionally does this space turn its eye to fossils, but there’s been quite a bit of press this last week about the perceived lack of protection of fossil sites in British Columbia, some of which are alleged to be ground up for “kitty litter” (archive, etc). In that CBC report the Minister of Agriculture and Lands lists a whole variety of ways that fossil sites are, indeed, protected, in response to the general position of the paleontologists that there was no such legal protection. I believe this page summarizes the government’s position (which does indeed explicitly allow commercial exploitation in principle, though they are not currently taking kitty litter applications. The page is a virtual museum of weasel words and contradictory information and frankly, makes almost no coherent sense).
Anyhow, the most direct and obvious way that such sites are, in my opinion, already protected, or the way they could be: by the Heritage Conservation Act (HCA).