PROVINCE OF BRITISH COLUMBIA ORDER OF THE LIEUTENANT GOVERNOR IN COUNCIL Order in Council No. , Approved and Ordered Lieutenant Governor Executive Council Chambers, Victoria On the recommendation of the undersigned, the Lieutenant Governor, by and with the advice and consent of the Executive Council, orders that the Speculation and Vacancy Tax Regulation, B.C. Reg. 275/2018, is amended as set out in the attached Appendix. Minister of Finance Presiding Member of the Executive Council (This

part is for administrative purposes only and is not part of the Order.) Authority under which Order is made: Act and section: Speculation and Vacancy Tax Act, S.B.C. 2018, c. 46, s. 139 Other: OIC 727/2018 R10661237 April 3, 2023 APPENDIX

Section of the Speculation and Vaca ncy Tax Regulation, B.C. Reg. 275/2018, is amended (

a) by repealing the definition of “average monthly rent” and substituting the following: “average monthly rent” , in relation to a class of apartments for a calendar year, means (

a) the average monthly rent reported by CMHC for the calendar year for the class of apartments, or (

b) if the average monthly rent for the class of apartments is not reported by CMHC for the calendar year, the average monthly rent reported by CMHC for the class of apartments for the first calendar year preceding that calendar year; , and (

b) by repealing the definition of “census area”. 2

Section is amended (

a) in subsection (2) (

a) and (

b) by striking out “ average monthly rent for the class of apartments that is comparable to the residence ” and substituting “average monthly rent, for the class of apartments comparable to the residence, for the calendar year ”, and (

b) in subsection (3) (

b) by striking out “the smallest census area” and substituting “the smallest geographic area”.