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Volume 49, No. 12

B.C. Reg. 160/2006

The British Columbia Gazette,

Part II

June 20, 2006

B.C. Reg. 160/2006, deposited June 14, 2006, pursuant to the ATTORNEY GENERAL STATUTES AMENDMENT ACT, 2006 [Section 18] and the ESCHEAT ACT [Sections 16 and 22]. Order in Council 403/2006, approved and ordered June 13, 2006.

On the recommendation of the undersigned, the Administrator, by and with the advice and consent of the Executive Council, orders that

1 Sections 1 to 5 of the Attorney General Statutes Amendment Act, 2006 , S.B.C. 2006, c. 11, are brought into force.

2 The following regulation is made:

ESCHEAT REGULATION

Interest

(1) For the purposes of

section 16 (2) of the Escheat Act , the prescribed rate of interest is, during each successive 3 month period, beginning on October 1, January 1, April 1 and July 1 in every year, 3% above the prime lending rate of the principal banker to the Province on the 15th day of the month immediately preceding that 3 month period.

(2) Interest is to be compounded monthly and calculated on the number of days since

(

a) the last compounding of interest, or

(

b) if no previous compounding has occurred, the date of the order made under

section 16 (1) of the

Escheat Act .

Deferral agreement — maximum term

2 The maximum term of a deferral agreement is 5 years.

— W. OPPAL, Attorney General and Minister Responsible for Multiculturalism; G. CAMPBELL, Presiding Member of the Executive Council.

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