In this regulation:
2008 Trust means the trust established under the Declaration of Trust entitled "BC Forestry Revitalization Trust II" dated February 28, 2008, made by Eric van Soeren as trustee of the BC Forestry Revitalization Trust and published on a publicly accessible website maintained by the ministry of the minister;
BC Forestry Revitalization Trust means the trust referred to in section 10 of the Forestry Revitalization Act;
declaration means the Declaration of Trust entitled "2011 Contractor Mitigation Account Subtrust" dated January 3, 2012, made by Eric van Soeren as trustee of the 2008 Trust and published on a publicly accessible website maintained by the ministry of the minister;
FRT contractor mitigation amount means an amount that is an FRT Contractor Mitigation Amount under the declaration;
minister means the minister responsible for the administration of the Forestry Revitalization Act;
recipient means a person to or for the benefit of whom an amount is paid out of the subtrust;
subtrust means the trust established under the declaration.
Authorization is given for the remission of
income tax paid or payable by each recipient, plus interest and penalties paid or payable on that income tax, under the Income Tax Act for a taxation year, that is attributable to an amount paid out of the subtrust in accordance with the terms of the declaration to or for the benefit of that recipient, and
interest and penalties paid or payable by each recipient in respect of income tax paid or payable under the Income Tax Act for a taxation year, that is attributable to an FRT contractor mitigation amount paid to or for the benefit of that recipient.