Rate of interest

1 For the purposes of section 17 of the Mineral Land Tax Act, the rate of interest shall be

(a) during the period from September 1, 1983 until September 30, 1983, 1 1/2% above the prime lending rate of the principal banker to the Province on June 15, 1983, and

(b) during each successive 3 month period, beginning on October 1, January 1, April 1 and July 1 in every year, 3% above the prime lending rate of the principal banker to the Province on the 15th day of the month immediately preceding that 3 month period.

[am. B.C. Reg. 392/92.]