In this Act, agreement means the memorandum of agreement made on January 1, 1966 between Canada and the government, reproduced in the Schedule to the Pension Agreement Act, R.S.B.C. 1979, c. 315, and amended under section 2.
As agreed to by Canada, the Provincial Secretary, with the approval of the Lieutenant Governor in Council, may amend the agreement on behalf of the government.
To the extent to which a statute is required to be amended for the agreement, the statute has, for the relevant period provided in the agreement, the full force of law as if every required amendment had been expressly made in the statute.
The Minister of Finance may on behalf of the government do every act, exercise every power and make every payment necessary or proper for implementing every obligation assumed by the government under the agreement.
The Lieutenant Governor in Council may make regulations to implement any obligation assumed under the agreement and to collect any money in order to implement the agreement.
Any amount that the government becomes liable to pay to Canada as a result of the agreement is a charge on and is to be paid out of the consolidated revenue fund.