1992 Legislative Session: 1st Session, 35th Parliament
FIRST READING
The following electronic version is for informational purposes only.
The printed version remains the official version.
MINISTER OF FINANCE AND
CORPORATE RELATIONS
HER MAJESTY, by and with the advice and consent of the Legislative Assembly of the Province of British Columbia, enacts as follows:
1 (1) The following special accounts are discontinued:
(a) Crop Insurance Stabilization;
(b) Freedom to Move;
(c) Industrial Development Subsidiary Agreement Loan Repayment Revolving Fund;
(d) Land Titles Survey;
(e) Lottery Fund;
(f) Low Interest Loan Assistance Revolving Fund;
(g) North East Coal Development;
(h) Tourism Incentives Program.
(2) Money may be paid out of the general fund of the consolidated revenue fund after the end of March, 1992 in satisfaction of liabilities incurred on the basis of an appropriation under any of the discontinued special accounts referred to in subsection 1.
2 Section 11.1 of the British Columbia Transit Act, R.S.B.C. 1979, c. 421, is amended by adding the following subsections:
(2.1) Subject to the approval of the Lieutenant Governor in Council, the Vancouver Regional Transit Commission may, with respect to the fiscal year ending on March 31, 1993, make regulations under subsection (2) that relate to periods that are shorter than the full fiscal year, but which in the aggregate relate to the full fiscal year.
(2.2) If the Vancouver Regional Transit Commission does not make a regulation under subsection (2) before April 1, 1992 relating to all or any portion of the fiscal year ending on March 31, 1993, the Vancouver Regional Transit Regulation No. 14-1991 (B.C. Reg. 105/91) shall be deemed to be extended and continue in force
(a) for the period, and
(b) with any modifications necessary to the extension and continuation,
prescribed by the Lieutenant Governor in Council.
3 Sections 4 and 6 (2) (b) of the Industrial Development Incentive Act, S.B.C. 1985, c. 43, are repealed.
4 Section 5 of the Insurance For Crops Act, R.S.B.C. 1979, c. 202, is repealed.
5 Section 3.1 of the Insurance Premium Tax Act, R.S.B.C. 1979, c. 205, is amended by striking out "a tax equal to 5% of the premium paid or payable," and substituting "a tax equal to 7% of the premium paid or payable,".
6 Part 19 of the Land Title Act, R.S.B.C. 1979, c. 219, is repealed.
7 Section 1 of the Lottery Act, R.S.B.C. 1979, c. 249, is amended by repealing the definition of "fund".
8 Sections 6 and 7 are repealed.
9 Section 8 of the Lottery Corporation Act, S.B.C. 1985, c. 50, is amended by striking out "lottery fund established under the Lottery Act" and substituting "consolidated revenue fund".
10 Section 9 of the Special Accounts Appropriation and Control Act, S.B.C. 1988, c. 26, is repealed.
11 Sections 6 and 10 (f), (l), (p) and (r) of the Special Appropriations Act, S.B.C. 1982, c. 40, are repealed.
12 Section 3 of the Sustainable Environment Fund Act, S.B.C. 1990, c. 27, is repealed and the following substituted:
3 The object of the fund is to provide for programs to protect and enhance the environment.
13 Section 4 (1) is amended
(a) by repealing paragraph (c), and
(b) by striking out "and" at the end of paragraph (h), by adding ", and" at the end of paragraph (i) and by adding the following paragraph:
(j) any other prescribed revenue.
14 Section 5 (1) (a.1) and (2) is repealed.
15 Section 6 is amended by renumbering it as section 6 (1) and by adding the following subsection:
(2) Without restricting the generality of subsection (1), the Lieutenant Governor in Council, on the recommendation of the Minister of Finance and Corporate Relations, may make regulations prescribing revenue for the purpose of section 4 (1) (j).
16 Section 2 (1) of the Tobacco Tax Act, R.S.B.C. 1979, c. 404, is amended by striking out "a purchase of tobacco," and substituting "a purchase of tobacco in the form of cigars,".
17 Section 2 (1.2) is repealed and the following substituted:
(1.2) Every consumer shall, at the time of making a purchase of tobacco in the form of cigarettes, pay to Her Majesty in right of the Province a tax at the rate of 10.5¢ for each cigarette purchased.
18 Section 2 (1.6) to (1.9) is repealed and the following substituted:
(1.6) Every consumer shall, at the time of making a purchase of tobacco in a form other than cigars or cigarettes, pay to Her Majesty in right of the Province a tax at the rate of 8¢c for each gram of tobacco purchased.
19 The Low Interest Loan Assistance Revolving Fund Act, S.B.C. 1985, c. 44, is repealed.
20 (1) The Privatization Benefits Fund Act, S.B.C. 1988, c. 23, is repealed.
(2) The assets and liabilities of the Privatization Benefits Fund at the end of March, 1992 become the assets and liabilities of the British Columbia Endowment Fund on April 1, 1992.
21 The Transportation Capital Funding Act, S.B.C. 1990, c. 73, is repealed.
22 (1) Sections 1, 3, 4, 6, 7 to 15 and 19 to 21 shall be deemed to have come into force at the end of March, 1992 and are retroactive to the extent necessary to give them effect on and after that time.
(2) Sections 2 and 16 to 18 shall be deemed to have come into force on March 27, 1992 and are retroactive to the extent necessary to give them effect on and after that date.
(3) A regulation made under section 11.1 (2) of the British Columbia Transit Act by the Vancouver Regional Transit Commission is not invalid only because it is made before the date on which this Act receives Royal Assent so long as the regulation is made after March 26, 1992.
(4) Section 5 shall be deemed to have come into force on April 1, 1992 and is retroactive to the extent necessary to give it effect on and after that date.
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Copyright © 1992: Queen's Printer, Victoria, British Columbia, Canada