Definitions

1   In this regulation:

"Act" means the Utilities Commission Act;

"Island Generation facility" means the 275 MW natural gas-fired electricity generation facility located in Campbell River, British Columbia, including the land on which the facility is situated.

Exemptions

2   (1) The authority, V.I. Power Limited Partnership, Capital Power Limited Partnership, Capital Power Generation Services Inc. and 1597798 B.C. Ltd. are exempt from Part 3, except section 22, of the Act

(a) in respect of an agreement under which the authority is to acquire

(i) all of V.I. Power Limited Partnership's beneficial interest in the land and buildings comprising the Island Generation facility,

(ii) all of Capital Power Generation Services Inc.'s legal interest in the land and buildings comprising the Island Generation facility, and

(iii) all of Capital Power Limited Partnership's legal and beneficial interest in V.I. Power Limited Partnership, and

(b) in respect of an arrangement consequent on the closing of the agreement referred to in paragraph (a) under which 1597798 B.C. Ltd. is to acquire all of Capital Power Generation Services Inc.'s legal and beneficial interest in V.I. Power Limited Partnership other than the interest described in paragraph (a) (ii).

(2) The authority and V.I. Power Limited Partnership are exempt from section 71 of the Act in respect of an energy supply contract that

(a) becomes effective on or after the completion of the acquisitions referred to in paragraph (a), and

(b) establishes the terms and conditions under which electricity generated at the Island Generation facility is sold by V.I. Power Limited Partnership to the authority.