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SOUTH MORESBY IMPLEMENTATION ACCOUNT ACT

[RSBC 1996] CHAPTER 435

[Updated to October 31, 1997]

Contents

Section

 

1

Definitions

 

2

Special account continued

 

3

Contents of account

 

4

Payment out of the account

Definitions

1 In this Act:

"account" means the South Moresby Implementation Account continued under section 2;

"agreement" means an agreement between the Government of British Columbia and the Government of Canada for the establishment of a national park in the South Moresby area of the Queen Charlotte Islands;

"general fund" means the general fund of the consolidated revenue fund.

Special account continued

2 (1) The South Moresby Implementation Account is continued as a special account in the general fund.

(2) The account consists of the following subaccounts:

(a) [Repealed 1997-4-32.]

(b) Forest Replacement Account.

Contents of account

3 The account consists of the following:

(a) amounts appropriated by the Province for its contributions in accordance with the agreement;

(b) amounts received from the Government of Canada in accordance with the agreement;

(c) interest earned on or attributed to amounts in each subaccount required to be deposited in accordance with the agreement.

Payment out of the account

4 The Minister of Finance and Corporate Relations must make payments from the account in accordance with the agreement.