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Volume 45, No. 24

B.C. Reg. 365/2002

The British Columbia Gazette,

Part II

December 31, 2002

B.C. Reg. 365/2002, deposited December 19, 2002, pursuant to the ASSESSMENT ACT [section 20.1]. Order in Council 1155/2002, approved and ordered December 18, 2002.

On the recommendation of the undersigned, the Administrator, by and with the advice and consent of the Executive Council, orders that the Depreciation of Dams, Power Plants and Substations Regulation, B.C. Reg. 395/99, is amended as set out in the attached Schedule. — S. HAGEN, Minister of Sustainable Resource Management; C. CLARK, Presiding Member of the Executive Council .

Schedule

section 2 of the Depreciation of Dams, Power Plants and Substations Regulation, B.C. Reg. 395/99, is amended

(

a) by repealing subsection (4) and substituting the following:

(4) Despite subsection (1) and

section 3, if the assessor determines, as of October 31 of any year, that an electrical transformer within a substation has a design capacity that is at least 100% greater than the peak megavolt amp load requirement of that transformer during the previous 12 months, the cost of that transformer must be reduced by 25% before application of the depreciation determined otherwise under this regulation for valuation of that transformer for the next assessment roll. , and

(

b) by adding the following subsection:

(5) Subsection (4) applies only if a transformer is installed to service a load requirement or anticipated load requirement, and, subsequent to the installation,

(

a) the load requirement diminishes, or

(

b) the anticipated load requirement does not occur.

section 4 is amended

(

a) by adding subsection (2.1) as follows:

(2.1) In addition to the requirements under subsection (1) or (2), a confirmation under this

section must

(

a) be made to the assessor of the assessment area in which the electrical power generating facility or separate improvement within an electrical power generating facility is located,

(

b) be made by the November 30 next following the October 31 referred to in subsections (1) or (2),

(

c) in the case of subsection (1) (

a) or (2) (a), specify the date of the permanent closure or shutdown, and

(

d) in the case of subsection (1) (

b) or (2) (b), specify the commencement date and duration of the closure or shutdown

in order to be effective for the following tax year.

(

b) by repealing subsection (5).

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