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B.C. Reg. 269/92 |
Deposited July 24, 1992 |
| 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
[includes amendments up to B.C. Reg. 134/2000]
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Contents |
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1 In this regulation:
"branch" means the Collection and Loan Management Branch of the Ministry of Finance and Corporate Relations;
"debt or obligation" means a debt or obligation to which section 18 of the Financial Administration Act applies.
[am. B.C. Regs. 182/99, s. (a); 134/2000.]
2 The following persons may conclude a settlement agreement to forgive some or all of a debt or obligation:
(a) the Minister of Finance and Corporate Relations;
(b) the Deputy Minister of Finance and Corporate Relations;
(c) the Assistant Deputy Minister, Provincial Treasury;
(d) the director of the branch if, in respect of the debt or obligation, the total amount of principal and interest forgiven under the settlement agreement is not more than $40 000;
(e) a manager of the branch if, in respect of the debt or obligation, the total amount of principal and interest forgiven under the settlement agreement is not more than $20 000;
(f) a collection officer of the branch if, in respect of the debt or obligation, the total amount of principal and interest forgiven under the settlement agreement is not more than $10 000.
[am. B.C. Regs. 168/93; 182/99, s. (b) and (c).]
3 A debt or obligation in respect of which a settlement agreement is concluded by a person authorized to do so under section 2 is forgiven at the time and to the extent provided in the settlement agreement.
[am. B.C. Reg. 182/99, s. (d).]
4 Despite sections 2 and 3, a debt or obligation to the government may be forgiven, in whole or in part, at any time with the approval of the Lieutenant Governor in Council.
[am. B.C. Reg. 182/99, s. (e).]
[Provisions of the Financial Administration Act, R.S.B.C. 1996, c. 138, relevant to the enactment of this regulation: section 18 (2)]
Copyright (c) 2004: Queen's Printer, Victoria, British Columbia, Canada