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In This Volume

  • 48 (1) In this section, “transition project” means an improvement for which the time for filing liens has not yet expired under the Act repealed by this Act.
  • (2) This Act applies to a transition project unless all parties agree that the Act repealed by this Act continues to apply.
  • (3) Despite this Act there is no obligation to create or maintain a holdback account under section 5 on a transition project.
  • (4) If this Act requires a person not previously required to retain a holdback under the Act repealed by this Act to retain a holdback, it is sufficient compliance with this Act if, in relation to a transition project, the person retains a holdback only with respect to advances or payments made after this Act comes into force.
  • (5) Despite subsection (4), for the purposes of sections 23 and 34, in relation to a transition project, “required holdback” means the amount that would have been retained if this Act had applied to the transition project from the time the improvement was started.
  • (6) In respect of a transition project, nothing done in compliance with the law in force immediately before this Act comes into force is invalidated by subsection (2).
  • (7) [Not yet in force].
  • (8) In respect of a transition project, on the coming into force of this Act money paid into court under section 20(4) of the Act repealed by this Act or under an order of the court under section 33(2) of the Act repealed by this Act is deemed to be money paid into court under section 23 of this Act.
  • (9) Parties to a dispute respecting a transition project may apply to the court for directions as to the application of this section and the regulations to the circumstances of the dispute.

1997-45-48, effective February 1, 1998 (B.C. Reg. 1/98).