British Columbia Order in Council — Order under Petroleum and Natural Gas Section 1 of B (O.C. 21/2000)

O.C. 21/2000

British Columbia — Orders in Council

01/20/00. 12:•52 FAX 250 356 2965 . : MIN OFFICE ENERGY fiti PROVINCE OF BRITISH COLUMBIA ORDER OF THE LIEUTENANT GOVERNOR IN COUNCIL Order in Council No. 21 , Approved and adered JAN 2 Lieutenant Governor Executive Council Chamber', Victoria On the recommendation of the undersigned, the Lieutenant Governor, by and with the advice and consent of the Executive Council, orders that

section of the Petroleum and Natural Gas Royalty and Freeho1d Production Tax Regulation, B.C. Reg. 495/92, is amended by repealing the definition of "price factor" and :,iibstuting the following: "price factor" means the following: (

a) for heavy oil, the factor that is determined by the formula 1 + 2.5 x (wellhead price - threshold price for heavy oil) wellhead price (

b) for third tier oil, the lesser of (

i) the factor that is determined by the formula I ' 3 x (wellhead price - threshold price for third tier oil) wellhead price , and (ii) a factor of 2;. Minister of Energy and Mines and Presiding Member of the Executive Council Minister Reponsib'e for Northern Development (This

part is for administrative purposes only and is not part of the Order.) Authority under which Order is made: Act and section.- Petroleum and Natural Gas Act, s. 73 Other (specify):- OTC 1854/92 January 10, 2000 /98y-/2000/33/ca JAN 20 2000 13:04 250 PAGE.02

Document details

Collection	British Columbia — Orders in Council
Citation	O.C. 21/2000
Type	order_in_council
Volume / chapter	arc oic 0021 2000
Language	en
Format	pdf
Source	PROVINCIAL
Identifier	c88a2046b8c25688a444b99b8eb45b7db04b82cf

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