Copyright © Queen's Printer,

Victoria, British Columbia, Canada

Licence

Disclaimer

Volume 51, No. 13

B.C. Reg. 172/2008

The British Columbia Gazette,

Part II

July 1, 2008

B.C. Reg. 172/2008 , deposited June 27, 2008, pursuant to the FINANCIAL ADMINISTRATION ACT [Section 18 (2)]. Order in Council 489/2008, approved and ordered June 26, 2008.

On the recommendation of the undersigned, the Lieutenant Governor, by and with the advice and consent of the Executive Council, orders that the Forgiveness of Debts and Obligations Regulation, B.C. Reg. 269/92, is amended according to the attached Schedule.

— C. TAYLOR, Minister of Finance; G. CAMPBELL, Presiding Member of the Executive Council.

Schedule

Section 1 of the Forgiveness of Debts and Obligations Regulation, B.C. Reg. 269/92, is amended by repealing the definition of " branch" and substituting the following:

"branch" means the Receivables Management Office of the Ministry of Small Business and Revenue; .

Section 2 is repealed and the following substituted:

Approval of forgiveness of a debt or obligation

2 Subject to

section 4, before a debt or obligation of the type set out in column 2 of the table to this

section is forgiven, one of the persons listed in column 1 opposite that type of debt or obligation must approve the settlement agreement to forgive some or all of the debt or obligation.

Column 1

Column 2

Item

Persons who may approve

Debt or obligation

Minister of Finance

Deputy Minister of Finance

Minister of Small Business and Revenue

Comptroller General, Ministry of Finance

Deputy Minister of Small Business and Revenue

Assistant Deputy Minister, Corporate Services Division, Ministry of Small Business and Revenue

Debt or obligation if the total amount of principal and interest to be forgiven under a settlement agreement is not more than $100 000

any of the persons listed in Item 1, or the director of the branch

Debt or obligation if the total amount of principal and interest to be forgiven under a settlement agreement is not more than $50 000

any of the persons listed in Items 1 and 2, or a manager or a collection officer of the branch

Debt or obligation if the total amount of principal and interest to be forgiven under a settlement agreement is not more than $25 000

Section 3 is amended by striking out "concluded" and substituting "approved".

Section 4 is repealed and the following substituted:

Forgiveness under other enactment

(1) A debt or obligation to the government may be forgiven, in whole or in part, at any time with the approval of the Lieutenant Governor in Council.

(2) Section 2 does not apply to a debt or obligation or a part of a debt or obligation to the extent that approval of forgiveness of the debt or obligation or part of the debt or obligation is given under another enactment.

Copyright © 2008: Queen's Printer, Victoria, British Columbia, Canada