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Mining Equipment, Mining Properties, Gold Mines & Gold Panning by BC Gold, British Columbia, Canada

Mining Equipment, Mining Properties, Lode Gold and Placer Mining by BC Gold, British Columbia, Canada

BC Gold - Mining Properties for Sale
All of British Columbia, where applicable
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Portable Assessment Credits for sale (PAC 505462) - Buy at up to 75% off
 Ad #:201
 Market Status: Unsold/Available
 Listing Type: For Sale
 Price: $300,000
 Category:Portable Assessment Credits for Sale
 Locality:All of British Columbia, where applicable
Description

Portable Assessment Credit for sale (PAC 505462)

In the Amount of $600,555.45 (CAD)

Buy at 70% off…receive an extra 5% off to purchase in its entirety...

From: https://www.bclaws.gov.bc.ca/civix/document/id/complete/statreg/11_529_2004#section9

Portable assessment credits

9  (1) The recorded holder of a claim may apply to the chief gold commissioner to have a portable assessment credit account created in their name and have exploration and development value credited to that account.

(2) If, in relation to a claim, a report on technical exploration and development has been approved under section 33 of the Act and any of the exploration and development credit has not been applied to the claim for the purposes of section 8 of this regulation, that remaining credit may be applied to the portable assessment credit account of the recorded holder or the person who performed the technical exploration and development.

(2.1) If a report about

(a) determining ownership of land,

(b) serving notice under section 19 (1) of the Act, or

(c) making reasonable efforts to serve notice under section 19 (1) of the Act if an exemption has been granted under section 19 (1.1) of the Act

has been approved under section 33 of the Act and any of the exploration and development credit has not been applied to a claim for the purposes of section 8 of this regulation, that remaining credit may be applied to the portable assessment credit account of the recorded holder or the person who determined ownership of land, served notice or made reasonable efforts to serve notice.

(3) A recorded holder may use their portable assessment credit to satisfy up to 30% of the exploration and development required for an anniversary year, but only if

(a) in combination with the value to be credited for exploration and development work determined under section 7 (9) for that year, the full requirement for exploration and development for that anniversary year is satisfied, and

(b) the exploration and development being recorded for that anniversary year is technical exploration and development.

(4) If there has been a minimum of 10 years of exploration and development recorded on a claim, the recorded holder may apply credits from their portable assessment credit account to maintain that claim for up to 5 years by registering the credit against the claim.

(5) For the purposes of subsection (4), the value of the credits required to maintain the claim for each year is $40 per hectare and

(a) for online registration the credit must be registered no later than 60 days before the expiry date of the claim, or

(b) for registration in person the credit may be registered at any time before the expiry date.

(6) A credit under subsection (5) may be applied to a claim only once and only if a similar credit was not applied to that claim before January 12, 2005.

(7) If a claim is expropriated for a park, as part of the compensation settlement the chief gold commissioner may authorize the deposit, to the recorded holder's portable assessment credit account, of the value of all or a portion of the exploration and development applied to the expropriated claim.

(8) If a park is established by expropriation of land within a claim subsequent to the location of the claim, the chief gold commissioner may, as part of the compensation settlement, authorize a credit from the recorded holder's portable assessment credit account to be applied to one or more claims held by the recorded holder for the purposes of section 29 or 33.1 of the Act.

(9) For the purposes of subsection (8), credit must be applied to the claim in accordance with the values specified in section 8 (3) and for the number of years determined by the chief gold commissioner up to the limit specified in section 8 (5).

(10) For the purposes of subsection (8), no recording fees are payable under section 29 of the Act.

[am. B.C. Regs. 78/2008, Sch. B, s. 5; 89/2012, s. 6.]

 


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