Regulation BEFORE repealed by BC Reg 80/2005, effective March 17, 2005.
| B.C. Reg. 232/98 Treasury Board Regulation | Deposited July 6, 1998 |
Financial Administration Act
Retention of Fee by British Columbia Assets and Land Corporation Regulation
Retention authorized
1 British Columbia Assets and Land Corporation (Incorporation No. 258741) ("BCALC") is authorized to retain the following amounts from all public money collected by BCALC in marketing and disposing of BC OnLine in accordance with the agreement between the Province, represented by the Minister of Finance and Corporate Relations and BCALC dated April 1, 1998 ("the Agreement") which is on file with the Minister of Finance and Corporate Relations:
(a) all "Eligible Expenses", as defined in the Agreement;
(b) 1.5% of "Net Revenue", as defined in the Agreement.
Estimate for calculation under 1 (b)
2 For the purposes of calculating the amount under section 1 (b), BCALC is authorized to include in the Gross Revenue, as defined in the agreement, from the disposition of BC OnLine an estimate, approved by Treasury Board, of the net present value of all amounts payable by the purchaser.
[Provisions of the Financial Administration Act, R.S.B.C. 1996, c. 138, relevant to the enactment of this regulation: section 14 (2)]