44_2022 — Property Transfer Tax Exemption Regulation No. 34

s. 1 — Definition and interpretation

s. 1(1)

In this regulation, Act means the Property Transfer Tax Act.

s. 1(2)

Words and expressions used in this regulation in relation to a specific treaty first nation and defined in the final agreement of the treaty first nation have the same meaning as in that final agreement.

s. 1(3)

Words and expressions used in this regulation in relation to the Nisg̱a'a Nation and defined in the Nisg̱a'a Final Agreement have the same meaning as in the Nisg̱a'a Final Agreement.

s. 2 — Exemption

s. 2(1)

Subject to subsection (2), a transfer of lands described in column 2 of the Schedule to a transferee set out opposite in column 1 of the Schedule is exempt from tax payable under the Act.

s. 2(2)

Subsection (1) does not apply if

s. 2(2)(a)

the applicable final agreement provides a date by which or a period within which the transferee must become the registered owner of the land described in column 2 in order for the land to be added to the treaty lands and the transfer of the land does not occur by that date or within that period, or

s. 2(2)(b)

the applicable final agreement provides a date by which or a period within which the transferee must notify British Columbia that it wishes to purchase the land described in column 2 of the Schedule and notice is not given by that date or within that period.

Schedule