407_2000 — Commodity Derivatives by Government Bodies Regulation

s. 1 — Specified government bodies

s. 1(1)

The following are specified as government bodies for the purposes of section 79.3 of the Financial Administration Act:

s. 1(1)(a)

British Columbia Hydro and Power Authority;

s. 1(1)(b)

Powerex Corp.

s. 1(2)

Repealed. [B.C. Reg. 104/2003.]

s. 2 — Restrictions, limits and conditions to enter into commodity derivatives

s. 2(1)

The authority of a government body specified in section 1 (1) to enter into commodity derivatives is subject to the following restrictions, limits and conditions:

s. 2(1)(a)

the government body must have established and be maintaining a risk management committee;

s. 2(1)(b)

the risk management committee referred to in paragraph (a) must include among its responsibilities the development and implementation of a risk management policy with respect to commodity derivatives entered into by the government body;

s. 2(1)(c)

the risk management policy referred to in paragraph (b), and any changes to that policy, must be

s. 2(1)(c)(i)

approved by the board of directors of the government body, and

s. 2(1)(c)(ii)

filed with the Minister of Finance.

s. 2(2)

Repealed. [B.C. Reg. 104/2003.]