British Columbia Order in Council — Amendment to Land Tax Deferment Regulation (O.C. 556/2020)

O.C. 556/2020

British Columbia — Orders in Council

PROVINCE OF BRITISH COLUMBIA ORDER OF THE LIEUTENANT GOVERNOR IN COUNCIL Order in Council No. , Approved and Ordered Lieutenant Governor Executive Council Chambers, Victoria On the recommendation of the undersigned, the Lieutenant Governor, by and with the advice and consent of the Executive Council, orders that the Land Tax Deferment Regulation, B.C. Reg. 57/98, is amended as set out in the attached Schedule. Minister of Finance and Deputy Premier Presiding Member of the Executive Council (This

part is for administrative purposes only and is not part of the Order.) Authority under which Order is made: Act and section: Land Tax Deferment Act, R.S.B.C. 1996, c. 249, s. 18 (2) Other: OIC 240/98 R10397903 September 20, 2020 :\

SCHEDULE

Section 1.1 (3) of the Land Tax Deferment Regulation, B.C. Reg. 57/98, is amended by striking out “the collector of taxes” and substituting “the minister”. 2 The following

section is added: Consent to obtain report 1.2

(1) In this section: “report” has the same meaning as in

section of the Business Practices and Consumer Protection Act; “reporting agency” has the same meaning as in

section of the Business Practices and Consumer Protection Act.

(2) If required by the minister, an applicati on made under

section or 7.1 of the Act must include the consent of the following persons for the minister to obtain from a reporting agency a report respecting the person who gives the consent: (

a) each owner of the property that is the subject of the application; (

b) the spouse, in the case of an appl ication made under

section 7.1 of the Act. 3

Section is repealed an d the following substituted: Agreement to defer property taxes 3

(1) In this section: “owner” means an owner of eligible property that is subject to an agreement; “register the agreement” means to do one or both of the following, as applicable: (

a) to register an agreement in the land title office as a lien and charge against an owner’s interest in eligible propert y that is subject to the agreement in favour of the government; (

b) to register a financing statement in the personal property registry as a lien against an owner’s interest in a manufactured home that is subject to an agreement in favour of the government.

(2) An agreement may be made electronicall y or in any other manner, as required by the minister.

(3) Each owner must, in an agreement, (

a) authorize the minister to register the agreement, (

b) agree to notify the minister (

i) in the event of the death of an owner, and (ii) if the eligible property is sold, transferred or otherwise disposed of, and (

c) agree to obtain the consent of th e following persons to register the agreement, if consent is required by the minister as a term of that agreement: (

i) a holder of a registered charge against the eligible property; (ii) a spouse within the meaning of the Land (Spouse Protection) Act on whose behalf an entry is made, in relation to the eligible property, under that Act. 4

Section is repealed an d the following substituted: Amending agreement 7

(1) In this section: “amending agreement” has the same meaning as in

section 7.1 of the Act; “original agreement” has the same meaning as in

section 7.1 of the Act; “owner” means an owner of eligible proper ty that is subject to an amending agreement; “spouse” means a spouse who enters into an amending agreement.

(2) An amending agreement may be made el ectronically or in any other manner, as required by the minister.

(3) A spouse must, in an amending agreemen t, agree with the minister to be bound by and to perform, satisfy and discharge all of the obligations, liabilities and duties under the original agreement, as amended, as if the spouse were an original party to the original agreement.

(4) A spouse and each owner must, in an amending agreement, authorize the minister to do one or both of the following, as applicable: (

a) to register the amending agreement as a modification to the registered charge created when the original agre ement was registered in the land title office; (

b) to register a financing change statement amending the financing statement registered in the personal property registry when the original agreement was originally made. 5 Forms 2, 2A and are repealed.

Document details

Collection	British Columbia — Orders in Council
Citation	O.C. 556/2020
Type	order_in_council
Volume / chapter	arc oic 0556 2020
Language	en
Format	pdf
Source	PROVINCIAL
Identifier	2125eab15eb35a1593b906e207c80291f1de9fb4

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