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Volume 55, No. 24

331/2012

The British Columbia Gazette,

Part II

December 4, 2012

B.C. Reg. 331/2012 , deposited November 23, 2012, pursuant to the COLUMBIA BASIN TRUST ACT [section 31 (3)]. Order in Council 772/2012, approved and ordered November 22, 2012.

On the recommendation of the undersigned, the Lieutenant Governor, by and with the advice and consent of the Executive Council, orders that the attached Exemption Regulation No. 4 is made.

— M. DE JONG, Minister of Finance ; M. POLAK, Presiding Member of the Executive Council .

EXEMPTION REGULATION NO. 4

Exemption

1 Land and improvements owned by the Waneta Expansion General Partner Limited are exempt from 49% of the taxes described under

section 31 (3) of the Columbia Basin Trust Act for the 2013 and subsequent taxation years if included in a power generation, transmission or distribution facility constructed in whole or in part by or on behalf of the Columbia Basin Trust.

Rescission of exemption

2 An exemption of land or an improvement under

section 1 is rescinded if

(

a) the land or the improvement is not owned by the Waneta Expansion General Partner Limited, or

(

b) the combined ownership interest of 2 or more of the following in either the Waneta Expansion General Partner Limited or the Waneta Expansion Limited Partnership is less than 49%:

(

i) Columbia Basin Trust or a subsidiary of Columbia Basin Trust;

(ii) Columbia Power Corporation or a subsidiary of Columbia Power Corporation;

(iii) the government.

Copyright © 2012: Queen's Printer, Victoria, British Columbia, Canada