Definitions

1   In this regulation:

"Act" means the South Coast British Columbia Transportation Authority Act;

"authority" means the Greater Vancouver Transportation Authority.

Outstanding debt obligations

2   For the purposes of section 31 (1) of the Act, the outstanding debt obligations of the authority arising from borrowings must be calculated by adding the following:

(a) the current outstanding borrowings of the authority that are secured by debentures;

(b) the aggregate of the original amounts borrowed by the authority under currently outstanding capital leases;

(c) the current outstanding borrowings of the authority, including, but not limited to, current outstanding borrowings under notes, lines of credit and bank overdrafts.