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Volume 55, No. 10

104/2012

The British Columbia Gazette,

Part II

May 22, 2012

B.C. Reg. 104/2012 , deposited May 22, 2012, pursuant to the BC HYDRO PUBLIC POWER LEGACY AND HERITAGE CONTRACT ACT [sections 3 and 4]. Order in Council 313/2012, approved and ordered May 22, 2012.

On the recommendation of the undersigned, the Administrator, by and with the advice and consent of the Executive Council, orders that the Heritage Special Direction No. HC2 to the British Columbia Utilities Commission, B.C. Reg. 158/2005, is amended

(

a) in

section 1 by repealing the definition of "trade income" and substituting the following:

"trade income" means the greater of the following:

(

a) the amount that is equal to the authority’s consolidated net income, less the authority’s net income, less the net income of the authority’s subsidiaries except Powerex Corp., less the amount that the authority’s consolidated net income changes due to foreign currency translation gains and losses on intercompany balances between the authority and Powerex Corp;

(

b) zero.

(

b) in

section 4 by adding " and directions issued to the commission under

section 3 of the Utilities Commission Act " after " Subject to

section 7 ", and

(

c) in

section 6 by striking out " operating income " and substituting " net income " in both places.

— R. COLEMAN, Minister of Energy and Mines and Minister Responsible for Housing ; K. FALCON, Presiding Member of the Executive Council .

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