Point in Time - Insurance Premium Tax Act

"Point in Time" Regulation Content

SECTION	EFFECTIVE DATE
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.)
Regulation	June 13, 2016
Section 1	December 1, 2014

Regulation BEFORE repealed by BC Reg 154/2016, effective June 13, 2016.

B.C. Reg. 52/2003
O.C. 137/2003

Deposited February 18, 2003

[includes amendments up to B.C. Reg. 207/2014, December 1, 2014]

1 Interest payable on amounts due to the government under the Insurance Premium Tax Act must be

(a) calculated at the rate prescribed under the Interest Rate under Various Statutes Regulation, B. C. Reg. 386/92, and

(b) calculated on a daily basis and compounded monthly.

[am. B.C. Reg. 207/2014, Sch. s. 1.]

[Provisions relevant to the enactment of this regulation: Insurance Premium Tax Act, R.S.B.C. 1996, c. 232, sections 7, 11 and 41]

Section 1 (b) BEFORE amended by BC Reg 207/2014, effective December 1, 2014.

(b) calculated on a daily basis and compounded every 30 days.