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"Point in Time" Regulation Content

Local Government Act

Development Cost Charge (Instalments) Regulation

B.C. Reg. 166/84

NOTE: Links below go to regulation content as it was prior to the changes made on the effective date. (PIT covers changes made from September 19, 2009 to "current to" date of the regulation.)
Section 1 May 17, 2018
Section 7 July 1, 2012

 Section 1 definition of "charge" BEFORE amended by BC Reg 98/2018, effective May 17, 2018.

"charge" means a development cost charge imposed under section 933 (6) of the Local Government Act for a subdivision approval or grant of a building permit;

 Section 7 BEFORE amended by BC Reg 255/2011, effective July 1, 2012.

 Surety for payment by instalment

7  A developer electing to pay a charge by instalments must deposit with the treasurer at the same time as he pays the first instalment

(a) an irrevocable letter of credit or undertaking from a bank, credit union or a trust company registered under the Financial Institutions Act, or

(b) a bond of a surety licensed under the Insurance Act, or

(c) a security duly assigned

which ensures to the satisfaction of the treasurer that upon default the balance of the unpaid charge will be recoverable from the person, the bank, the surety or from the proceeds of the realization of the security, as the case may be.

[am. B.C. Reg. 58/85.]