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5 (1) In this section, “property” means all property of the Authority except

  • (a) accounts, chattel paper, documents of title, instruments, money and security, as those terms are defined in the Personal Property Security Act,
  • (b) records, as defined in the Land Title Act,
  • (b.1) records, as defined in the Land Title Act as that Act applies to a first nation under an FNCIDA agreement, and
  • (c) the assurance fund established under section 294.11 of the Land Title Act.
  • (2) The Authority may not dispose of its property except
  • (a) in accordance with section 3,
  • (b) in accordance with Part 19.1 of the Land Title Act, or
  • (c) in the ordinary course of business of carrying out the purposes of the Authority, other than granting security for the payment of any money or the performance of any obligation.
  • (3) The property is not subject to
  • (a) any process of attachment, execution or seizure, or
  • (b) a trust in favour of a person who claims to have sustained a loss.
  • (4) Despite any Act, agreement or court order, a receiver must not exercise custody or control over the property.
  • (5) If a provision of an agreement to which the Authority is a party limits, in a manner that is inconsistent with this Act, access to or the use of property, the provision is not enforceable against the Authority.
  • (6) The chief executive officer may certify that a disposal of the Authority’s property is in the ordinary course of business of carrying out the purposes of the Authority.
  • (7) A certification of the chief executive officer under subsection (6) is conclusive evidence that the disposal of the Authority’s property is in the ordinary course of business of carrying out the purposes of the Authority.

2004-66-5, effective November 19, 2004 (B.C. Reg. 496/2004); 2012-21-9, effective June 25, 2012 (B.C. Reg. 154/2012).