ADMINISTRATION.

Investment of

moneys in University Endowment

Account.

Appropriation of

income for University purposes.

Taxation of lands and improvements.

Regulations.

surplus remaining after payment into the Consolidated Revenue Fund of the moneys referred to in clause (a).

6. (1.) Moneys at the credit of the University Endowment Account shall be invested from time to time in securities approved by the Minister of Finance, and until so invested shall be kept in a chartered bank on deposit bearing interest.

(2.) The annual income from the University Endowment Account and the investments of its moneys shall be paid over to the Board of Governors of The University of British Columbia at such times as the Minister of Finance may direct.

7. Notwithstanding any provision of the "Taxation Act," where any parcel of land within any part of said District Lot 140 which has been subdivided under the "British Columbia University Loan Act," or is subdivided under this Act, is liable to taxation under the "Taxation Act," the land comprised in the parcel and the improvements thereon shall for purposes of taxation under that Act be assessed separately, and shall be taxed as follows:—

(a.) The land at the rate of taxation for improved land upon the full amount of its assessed value:

(b.) The improvements shall not be taxed, except as directed from time to time by the Lieutenant-Governor in Council, and then only at the rate of taxation for improved land upon the whole or such part of the assessed value of the improvements as is so directed.

8. (1.) For the purpose of carrying into effect the provisions of this Act according to their true intent or of supplying any deficiency therein, the Lieutenant-Governor in Council may make such regulations not inconsistent with the spirit of this Act as may be considered necessary, advisable, or convenient.

(2.) Without thereby limiting the generality of the provisions contained in subsection (1), it is declared that the power of the Lieutenant-Governor in Council to make regulations shall extend

to:

(a.) The carrying-out and enforcement of all covenants and conditions contained in contracts entered into with purchasers and lessees under the "British Columbia University Loan Act" or under section 2 of this Act:

(b.) Requiring and compelling that a permit to erect, alter, or repair any building (including plumbing and electrical equipment and fixtures) on lands subdivided under this Act or under the "British Columbia Loan Act" shall be obtained before proceeding with the work of erection, alteration, or repair:

ADMINISTRATION.

(c.) Providing for the inspection of buildings and premises in order to ascertain whether the regulations are obeyed, or to enforce and carry into effect the regulations: (d.) Prescribing the fees payable in respect of permits issued under the regulations, and prescribing fees for anything done or permitted to be done under the regulations: (e.) Prescribing penalties for the enforcement of any regulation.

VICTORIA, B.C.:

Printed by CHARLES F. BANFIELD, Printer to the King's Most Excellent Majesty.

1925.

An Act to amend the "British Columbia University R.S.B.C. 1924,

Act."

[Assented to 11th December, 1925.]

IS MAJESTY, by and with the advice and consent of the
Legislative Assembly of the Province of British Columbia,

enacts as follows:

c. 265.

1. This Act may be cited as the "British Columbia University Short title. Act Amendment Act, 1925."

2. The "British Columbia University Act," being chapter 265 of Enacts s. 103. the "Revised Statutes of British Columbia, 1924," is amended by adding thereto the following section:

"103. (1.) No person shall assume or use, in the course of his trade, occupation, or calling, or otherwise howsoever, the Coat of Arms of the University, as in use in the various offices or departments of the University, or any design in imitation of the same, or calculated to deceive by its resemblance thereto, or any paper or other material upon which the same or any design in imitation thereof, or calculated to deceive as aforesaid, is stamped, engraved, printed, or otherwise marked.

"(2.) Every person who violates any provision of subsection (1) shall be liable, on summary conviction, to a fine not exceeding fifty dollars."

VICTORIA, B.C.:

Printed by CHARLES F. BANFIELD, Printer to the King's Most Excellent Majesty.