Forgiveness of Debts and Obligations Regulation

Contents
	1	Interpretation
	2	Approval of forgiveness of a debt or obligation
	3	Debt or obligation forgiven
	4	Forgiveness under other enactment

Interpretation

1 In this regulation:

"branch" means the Receivables Management Office of the Ministry of Small Business and Revenue;

"debt or obligation" means a debt or obligation to which section 18 of the Financial Administration Act applies.

[am. B.C. Regs. 182/99, s. (a); 134/2000; 172/2008, s. 1.]

Approval of forgiveness of a debt or obligation

2 Subject to section 4, before a debt or obligation of the type set out in column 2 of the table to this section is forgiven, one of the persons listed in column 1 opposite that type of debt or obligation must approve the settlement agreement to forgive some or all of the debt or obligation.

	Column 1	Column 2
Item	Persons who may approve	Debt or obligation
1	Minister of Finance Deputy Minister of Finance Minister of Small Business and Revenue Comptroller General, Ministry of Finance Deputy Minister of Small Business and Revenue Assistant Deputy Minister, Corporate Services Division, Ministry of Small Business and Revenue	Debt or obligation if the total amount of principal and interest to be forgiven under a settlement agreement is not more than $100 000
2	any of the persons listed in Item 1, or the director of the branch	Debt or obligation if the total amount of principal and interest to be forgiven under a settlement agreement is not more than $50 000
3	any of the persons listed in Items 1 and 2, or a manager or a collection officer of the branch	Debt or obligation if the total amount of principal and interest to be forgiven under a settlement agreement is not more than $25 000

[en. B.C. Reg. 172/2008, s. 2.]

Debt or obligation forgiven

3 A debt or obligation in respect of which a settlement agreement is approved by a person authorized to do so under section 2 is forgiven at the time and to the extent provided in the settlement agreement.

[am. B.C. Regs. 182/99, s. (d); 172/2008, s. 3.]

Forgiveness under other enactment

4 (1) A debt or obligation to the government may be forgiven, in whole or in part, at any time with the approval of the Lieutenant Governor in Council.

(2) Section 2 does not apply to a debt or obligation or a part of a debt or obligation to the extent that approval of forgiveness of the debt or obligation or part of the debt or obligation is given under another enactment.

[en. B.C. Reg. 172/2008, s. 4.]

[Provisions of the Financial Administration Act, R.S.B.C. 1996, c. 138, relevant to the enactment of this regulation: section 18 (2)]