Powers vested in Lieutenant Governor in Council

1   (1) Despite a law to the contrary, the Lieutenant Governor in Council may do one or more of the following:

(a) sell or lease on terms and for a price or rental the Lieutenant Governor in Council considers advisable to any person who proposes to establish or expand an aluminum industry in British Columbia, Crown land or an interest in it, and also on terms and for a price or rental the Lieutenant Governor in Council considers advisable grant a licence to that person to store or use any unrecorded water in British Columbia;

(b) make other arrangements regarding the future operations of that industry the Lieutenant Governor in Council believes to be in the best interest of British Columbia including arrangements for the sale or transfer of electricity to that person from sources other than the hydro electric development and works and facilities made and constructed by that person and on terms and for a price the Lieutenant Governor in Council considers advisable.

(c) make with that person arrangements the Lieutenant Governor in Council considers advisable regarding any future taking by any public authority of the hydro electric development and works and facilities made and constructed by that person, including arrangements as to the manner and extent of the taking, the determination of the compensation payable in connection with it and the conditions governing the future supply of electric power from the development so taken;

(d) authorize the minister to execute an agreement for the purposes of this subsection.

(2) Subsection (1) does not authorize the Lieutenant Governor in Council to grant that person financial assistance by way of loans, subsidies or in any other manner.

(3) An agreement entered into under this Act must provide for the protection that may be considered advisable by the Lieutenant Governor in Council of fisheries that would be injuriously affected.

Amendment of agreements

2   An agreement made under this Act may be amended or extended if considered advisable by the Lieutenant Governor in Council, if the subject matter of the amendment or extension could lawfully have been incorporated in the original agreement at the time it was made.

Incorporation of industrial township

3   If an agreement made under section 1 provides for the incorporation of an industrial township, the Lieutenant Governor in Council may incorporate that area of British Columbia covered by the agreement into an industrial township, and after that the taxes payable in respect of the land and improvements in the area incorporated are, despite any other Act, as provided for in the agreement.

Regulations for township

4   The Lieutenant Governor in Council may make regulations the Lieutenant Governor in Council considers necessary and expedient for the administration and conduct of the affairs of an industrial township, but the rules and regulations must not be inconsistent with the terms of an agreement made under section 1 relating to the industrial township.