1992 Legislative Session: 1st Session, 35th Parliament
THIRD READING
The following electronic version is for informational purposes only.
The printed version remains the official version.
Certified correct as passed Third Reading on the 1st day of June, 1992
Ian D. Izard, Law Clerk.
MINISTER OF ENERGY, MINES AND
PETROLEUM RESOURCES
HER MAJESTY, by and with the advice and consent of the Legislative Assembly of the Province of British Columbia, enacts as follows:
1 Section 8 (5) of the Petroleum and Natural Gas Act, R.S.B.C. 1979, c. 323, is repealed and the following substituted:
(5) Notwithstanding section 79 of the Assessment Act, a development road designated under subsection (1) shall not, under another Act, be assessed or taxed as an improvement or as land or property.
2 Section 91 (2) is amended by striking out "and" at the end of paragraph (g), by adding ", and" at the end of paragraph (h) and by adding the following paragraph:
(i) the calculation and payment of interest on overpayment of royalty.
3 Section 92 (1) and (1.1) is repealed and the following substituted:
(1) Every person required to pay royalty shall, on or before a prescribed date,
(a) pay any royalty due, and
(b) file and complete a report in the form and manner required by the minister.
(1.1) A person required to pay royalty who fails to pay royalty when it is due shall pay interest on the amount of the unpaid royalty as prescribed by the Lieutenant Governor in Council.
(1.2) Where a person pays more money by way of royalty than the person is required to pay under this Part, the Crown in right of the Province may calculate interest on the overpayment as prescribed and may
(a) refund the overpayment plus interest to the person, or
(b) credit the person's royalty account with the amount of the overpayment plus interest.
(1.3) Interest under subsection (1.2) (a) may be paid out of the consolidated revenue fund.
4 Section 92.2 (2) is amended by striking out "division head," and substituting "royalty administrator appointed under section 91 (2.1),".
5 Section 112 (1) is amended
(a) by adding ", operation or abandonment" after "governing the drilling", and
(b) by repealing paragraph (r) and substituting the following:
(r) require the cleaning out or abandonment of a well; .
6 This Act comes into force by regulation of the Lieutenant Governor in Council.
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Copyright © 1992: Queen's Printer, Victoria, British Columbia, Canada