Crown Corporation Payments Regulations

3 (1) On the coming into force of these Regulations, no corporation included in Schedule III or IV to the Act that is exempt from real property tax or a business occupancy tax shall enter into a special arrangement with a local government, province or other authority to pay an amount in lieu of such a tax that would be less than the amount that it would pay in accordance with these Regulations.

(2) Notwithstanding subsection (1), where, on the coming into force of these Regulations, a corporation included in Schedule III or IV to the Act is a party to a special arrangement referred to in that subsection, that arrangement may continue until the expiration of the term of that existing arrangement.

(3) [Repealed, SOR/2006-324, s. 1]