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 operating, maintaining, developing, marketing and disposing of Crown lands and interests in Crown lands, in accordance with the agreement between the Province, represented by the Minister of Environment, Lands and Parks and BCALC dated October 2, 1998 ("the Agreement") which is on file with the Minister of Environment, Lands and Parks:

(a) all "Eligible Fee Simple Expenses", as defined in the Agreement;

(b) all "UEL Eligible Expenses", as defined in the Agreement;

(c) all "BCALC Fee Simple Revenue Fees", as defined in the Agreement;

(d) all "BCALC UEL Fee Simple Revenue Fees", as defined in the Agreement;

(e) all "BCALC UEL Lease Management Fees", as defined in the Agreement;

(f) all interest earned on the "Provincial Fee Simple Revenue", as defined in the Agreement, while the Provincial Fee Simple Revenue is in the custody and control of BCALC, as trustee for the Province;

(g) all interest earned on the "Provincial UEL Fee Simple Revenue", as defined in the Agreement, while the Provincial UEL Fee Simple Revenue is in the custody and control of BCALC, as trustee for the Province;

(h) all interest earned on the "Provincial UEL Lease Revenue", as defined in the Agreement, while the Provincial UEL Lease Revenue is in the custody and control of BCALC, as trustee for the Province.