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Volume 63, No. 18

264/2020

The British Columbia Gazette,

Part II

September 22, 2020

B.C. Reg. 264/2020 , deposited September 20, 2020, under the LAND TAX DEFERMENT ACT [section 18 (2)]. Order in Council 556/2020, approved and ordered September 20, 2020.

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.

— C. JAMES, Minister of Finance and Deputy Premier ; D. EBY, Presiding Member of the Executive Council .

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 106 of the Business Practices and Consumer Protection Act ;

"reporting agency" has the same meaning as in

section 106 of the Business Practices and Consumer Protection Act .

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

section 5 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 application made under

section 7.1 of the Act.

Section 3 is repealed and the following substituted:

Agreement to defer property taxes

(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 property 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 electronically 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 the 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.

Section 7 is repealed and the following substituted:

Amending agreement

(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 property that is subject to an amending agreement;

"spouse" means a spouse who enters into an amending agreement.

(2) An amending agreement may be made electronically or in any other manner, as

required by the minister.

(3) A spouse must, in an amending agreement, 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 agreement 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 4 are repealed.

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