Financial Administration Act -- RETENTION OF FEE BY BRITISH COLUMBIA ASSETS AND LAND CORPORATION REGULATION No. 2

B.C. Reg. 233/98
Treasury Board Regulation

Deposited July 6, 1998

This archived regulation consolidation is current to December 3, 2004 and includes changes enacted and in force by that date. For the most current information, click here.

Financial Administration Act

RETENTION OF FEE BY BRITISH COLUMBIA ASSETS
AND LAND CORPORATION REGULATION No. 2

Retention authorized

1 British Columbia Assets and Land Corporation (Incorporation No. 258741) ("BCALC") is authorized to retain the following amounts from all public money collected by BCALC in operating, maintaining, developing, marketing and disposing of Crown assets in accordance with the agreement between the Province, represented by the Minister of Finance and Corporate Relations and BCALC dated April 1, 1998 ("the Agreement") which is on file with the Minister of Finance and Corporate Relations:

(a) all "Eligible Expenses", as defined in the Agreement;

(b) all "BCALC Fees", as defined in the Agreement;

(c) all interest earned on the "Provincial Revenue", as defined in the Agreement, while the Provincial Revenue is held by BCALC, as trustee for the Province.

[Provisions of the Financial Administration Act, R.S.B.C. 1996, c. 138, relevant to the enactment of this regulation: section 14 (2)]