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Volume 61, No. 14

153/2018

The British Columbia Gazette,

Part II

July 17, 2018

B.C. Reg. 153/2018 , deposited July 16, 2018, under the FINANCIAL ADMINISTRATION ACT [sections 72, 75 and 87.1] and the FINANCIAL INFORMATION ACT [section 5]. Order in Council 389/2018, approved and ordered July 16, 2018.

On the recommendation of the undersigned, the Lieutenant Governor, by and with

the advice and consent of the Executive Council, orders that, effective August 1,

2018,

(

a) the Guarantees and Indemnities Regulation, B.C. Reg. 258/87, is repealed,

(

b) the attached Indemnities and Guarantees Regulation is made,

(c)

section 9 (3) (

b) of the Excluded Employees (Legal Proceedings) Indemnity

Regulation, B.C. Reg. 62/2012, is amended by striking out “Guarantees and Indemnities

Regulation” and substituting “Indemnities and Guarantees Regulation”,

(d)

section 5 (1) of

Schedule 1 of the Financial Information Regulation, B.C. Reg. 371/93,

is amended by striking out “Guarantees and Indemnities Regulation (B.C. Reg. 258/87)”

and substituting “Indemnities and Guarantees Regulation”,

(e)

section 8 (1) of Order in Council 438/2013 is amended by striking out “Guarantees

and Indemnities Regulation, B.C. Reg. 258/87,” and substituting “Indemnities and Guarantees

Regulation”,

(f)

section 13 (1) of Order in Council 233/2012 is amended by striking out “Guarantees

and Indemnities Regulation, B.C. Reg. 258/87,” and substituting “Indemnities and Guarantees

Regulation”, and

(g)

section 11 (1) of Order in Council 692/2004 is amended by striking out “Guarantees

and Indemnities Regulation, B.C. Reg. 258/87,” and substituting “Indemnities and Guarantees

Regulation”.

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

INDEMNITIES AND GUARANTEES REGULATION

Definitions

1 In this regulation:

“Act” means the Financial Administration Act ;

“guarantee” means a guarantee other than a guarantee referred to in

section 74 (2)

of the Act.

Approval for indemnities and guarantees given by or on behalf of government

(1) Except for an indemnity or guarantee that may be given under

section 3, or under

another regulation under

section 72 (3) of the Act, an indemnity or guarantee may

be given by or on behalf of the government only by or with the prior written approval

of one of the following:

(

a) the Minister of Finance;

(

b) the Deputy Minister of Finance;

(

c) the Executive Director of the Risk Management Branch of the Ministry of Finance.

(2) Written approval under subsection (1) may be given in relation to either of

the following, as specified in the approval:

(

a) an indemnity or guarantee;

(

b) a class of indemnities or guarantees.

(3) A class of indemnities or guarantees for the purposes of subsection (2) (

b) may be established, without limitation, in relation to different persons, circumstances,

conditions, programs or services.

Other indemnities and guarantees given by or on behalf of government

(1) Despite

section 2, an indemnity or guarantee may be given by or on behalf of

the government if any of the following apply:

(

a) the indemnity is given in accordance with the Continuous Crop Insurance Regulation;

(

b) the indemnity is given by the Minister of Agriculture in accordance with the

Western Livestock Price Insurance Program;

(

c) the indemnity or guarantee is given in accordance with an enactment, other

than the Act or regulations made under the Act, and both of the following are satisfied:

(

i) the other enactment includes a process for approval of the indemnity or guarantee;

(ii) written notice that the approval has been given is given to the Executive

Director of the Risk Management Branch of the Ministry of Finance;

(

d) the indemnity or guarantee is given by the director or the director of adoption,

or a person to whom any or all of the powers, duties or functions of either has been

delegated, or by a person authorized under an agreement with the director or the director

of adoption to carry out any of the rights or responsibilities of either, in relation

to a child in care as that director or person considers necessary or advisable to

give effect to the child’s plan of care or the rights of that child under

section 70

of the Child, Family and Community Service Act .

(2) For the purposes of subsection (1) (d), “child in care” , “director” , “director

of adoption” and “plan of care” have the same meanings as in the Child, Family and Community Service Act .

Indemnities and guarantees by or on behalf of government corporations

(1) An indemnity or a guarantee may be given by or on behalf of a government corporation

only if one of the following applies:

(

a) the indemnity or guarantee is given with the prior written approval of one

of the following:

(

i) the Minister of Finance;

(ii) the Deputy Minister of Finance;

(iii) the Executive Director of the Risk Management Branch of the Ministry of

Finance;

(

b) the indemnity or guarantee is given by the government corporation after the

corporation has approved the indemnity or guarantee following an approval process

for which the Minister of Finance has given prior written approval.

(2) Written approval by a person referred to in subsection (1) (

a) may be given

in relation to either of the following, and an approval process under subsection (1) (

b) may provide for giving approval in relation to either or both of the following, as

specified in the approval:

(

a) an indemnity or guarantee;

(

b) a class of indemnities or guarantees.

(3) A class of indemnities or guarantees for the purposes of subsection (2) (

b) may be established, without limitation, in relation to different persons, circumstances,

conditions, programs or services.

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