First Nations Clean Energy Business Fund Regulation (B.C. Reg. 377/2010)

1 Definition

2 Power projects

3 Initial balance

4 Increase of balance Definition

1 In this regulation, "Act" means the Clean Energy Act. Power projects

2 (1) For the purposes of paragraph (a) in the definition of "power project" in section 20 (1) of the Act, the prescribed class of projects is projects for the generation of electricity from a clean or renewable resource, including transmission of the electricity to a point of interconnection with the equipment or facilities of a public utility. (2)  A project is not a power project if an organization of the government reporting entity has a financial interest in the project. (3)  For the purposes of paragraph (c) in the definition of "power project" in section 20 (1) of the Act, the prescribed authorizations are tenures granted under (a) section 11 or 14 of the Land Act, or (b) section 9 of the Ministry of Lands, Parks and Housing Act. Initial balance

3 The initial balance of the First Nations Clean Energy Business Fund is $5 million. Increase of balance

4 (1) The percentage prescribed for the purposes of section 20 (4) (b) of the Act is 50%. (2)  The land and water revenues prescribed for the purposes of section 20 (4) (b) of the Act are (a) land revenues received from tenures granted under (i) section 11 or 14 of the Land Act, or (ii) section 9 of the Ministry of Lands, Parks and Housing Act, and (b) annual rentals under Parts 2 and 3 of Schedule A of the Water Regulation, file:///D/HTML/bc120747.htm[14.01.2025 19:49:11] First Nations Clean Energy Business Fund Regulation excluding interest and penalties. (3)  The percentage prescribed for the purposes of section 20 (5) (a) is 75%. [Provisions relevant to the enactment of this regulation: Clean Energy Act, S.B.C. 2010, c. 22, section 38] Copyright (c) Queen's Printer, Victoria, British Columbia, Canada file:///D/HTML/bc120747.htm[14.01.2025 19:49:11]