BILL 6 -- 1998: BRITISH COLUMBIA HYDRO AND POWER AUTHORITY RATE FREEZE AND PROFIT SHARING ACT, 1998

1998 Legislative Session: 3rd Session, 36th 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 22nd day of April, 1998
Ian D. Izard, Law Clerk

HONOURABLE JOY K. MacPHAIL
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:

Tax and Consumer Rate Freeze Act

1 Section 2 of the Tax and Consumer Rate Freeze Act, R.S.B.C. 1996, c. 447, is amended by renumbering the section as section 2 (1) and by adding the following subsection:

(2) Without limiting subsection (1) and despite the Utilities Commission Act, the rates and rate schedules that were in effect on December 10, 1997 and that are prescribed by the regulations are the only lawful, enforceable and collectable rates that the British Columbia Hydro and Power Authority may collect, charge or enforce from December 10, 1997 to March 31, 2000 for the services to which those rates apply.
2 Section 8 (2) is amended by adding the following paragraph:

(d) prescribing rates and rate schedules for the purposes of section 2 (2).

Hydro and Power Authority Act

3 Section 35 of the Hydro and Power Authority Act, R.S.B.C. 1996, c. 212, is repealed and the following substituted:

Directives

35 Despite the Utilities Commission Act, the Lieutenant Governor in Council may issue directives directing the authority in a fiscal year to pay to the government an amount specified in the directive and may issue directives directing the authority in a fiscal year to pay to the persons constituting one or more classes of the authority's past or present customers an amount specified in the directive.

Commencement

4 (1) Sections 1 and 2 are deemed to have come into force on December 10, 1997 and are retroactive to the extent necessary to give them effect on and after that date.

(2) Section 3 is deemed to have come into force on March 31, 1998 and is retroactive to the extent necessary to give it effect on and after that date.