Definition

1   In this regulation, "transmission corporation" means the British Columbia Transmission Corporation, a company incorporated under the Business Corporations Act.

Fiscal agent

2   The Minister of Finance is appointed as fiscal agent for the transmission corporation.

Powers of fiscal agent

3   As fiscal agent for the transmission corporation, the Minister of Finance may, at the request of the transmission corporation, arrange all details and do, transact and execute all deeds, matters and things necessary or advisable for the transmission corporation to engage in the activities described in section 4.

Prohibited activities

4   Despite any Act, the transmission corporation may not, without the approval of the Minister of Finance, do any of the following:

(a) borrow money;

(b) issue, purchase, exchange or dispose of securities in relation to its borrowings;

(c) enter into interest rate or currency exchange agreements or other derivative transactions in relation to its borrowings, lendings or investments.