Mineral Tax General Regulation (B.C. Reg. 401/89)

Mineral Tax General Regulation Search Results | Clear Search | Previous (in doc) | Next (in doc) | Prev Doc | Next Doc Copyright (c) Queen's Printer, License Victoria, British Columbia, Canada Disclaimer B.C. Reg. 401/89 Deposited December 18, 1989 O.C. 1821/89 effective January 1, 1990 Mineral Tax Act Mineral Tax General Regulation Note: Check the Cumulative Regulation Bulletin 2014 for any non-consolidated amendments to this regulation that may be in effect. [includes amendments up to B.C. Reg. 393/92] Interpretation 1 In this regulation: "Act" means the Mineral Tax Act; "date of payment" means the date a payment is received (a) at the office of the commissioner, as evidenced by the date stamped on the back of the cheque or bank draft issued for the payment, or (b) at the main branch in Victoria of the principal banker to the Province, as the case may be. Interest rates and calculations 2 (1) For the purpose of sections 15 and 16 of the Act, the rate of interest during each successive 3 month period beginning on January 1, April 1, July 1 and October 1 in each year shall be 3% above the prime lending rate of the principal banker to the Province on the 15th day of the month immediately preceding that 3 month period. (2) For the purpose of sections 15 (2) and 16 (2) of the Act, the rate of interest during each successive 3 month period beginning on January 1, April 1, July 1 and October 1 in every year shall be 2% below the prime lending rate of the principal banker to the Province on the 15th day of the month immediately preceding that 3 month period. (3) Where an operator fails to pay an amount at the time required under section 13 of the Act, he shall pay interest on that amount, calculated from the time it became due until the date of payment. (4) Where an operator fails to pay an amount at the time required under section 14 (2) of the Act, he shall pay interest on that amount, calculated (a) from the time it became due until the date of payment, or (b) where the amount is not paid by the time a return is required to be delivered under section 13 of the Act, from the time it became due until the date on which the return was required to be filed. file:///D/HTML/bc138880.htm[14.01.2025 19:51:01]