.-<\.\s~ ~ ~ Q;), c ,..A. ~ /-»~ S cotJ\\'" PROVINCE OF BRITISH COLUMBIA BRITISH COLUMBIA UTILITIES COMMISSION IN THE MA TTER OF the Utilities Commission Act, S.B.C. 1980, c. 60, as amended and IN THE iv1A TTER OF Applications by Vancouver Island Gas Company Ltd. BEFORE: [\1. Taylor, Chairman; J.D.V. Newlands, Deputy Chairman; D.B. Kilpatrick, Commissioner; and N. Martin, Commissioner o R D E R WHEREAS Vancouver Island Gas Company Ltd. (I1Vigas utility providing propane gas service to the City of Nanaimo and surrounding area, applied pursuant to Section 59 of the Utilities Commission Act (lithe Act") October 31, 1986 for Commission approval to sell its utility assets in the Nanaimo service area to I.C.G. Utilities (British Columbia) Ltd.; and WHEREAS the purpose of the sale is to enable a consolidation of utility activities within British Columbia in the name of I.C.G. Utilities (British Columbia) Ltd.: and H I.e.G. tJt all the outstanding Common of Vancouver Island Gas Company Ltd.; and \\' in assets there are requirements for certain financial undertakings as outlined in an October 31, 1986 letter from Vancouver Island Gas Company BRITISH COLUM8iA COl.u1.t ~ UTILITIES COMM1SSIO:~ Y' <: 0 .. q ORDER f..,e;, NUMBER G-84-86 ) ) ) December 15, 1986 ) ) ) ) ) tl ), a (Canada) Ltd. is the present owner of with the proposed sale of the Vi gas .../ 2
2 WHEREAS Vancouver December 4, 1986 for Commission approval of the sale of all its outstanding Common Shares by I.C.G. Utilities (Canada) Ltd. to I.C.G. Utility Investments Ltd. effective 1200:005 a.m., January I, 1987: and WHEREAS the Commission has reviewed the Applications and is satisfied that the intent thereof is in the public interest. NOW THEREFORE the Commission hereby orders Vancouver Island Gas Company Limited as follows: I. .Approval is granted to Vancouver Island Gas Company Limited for the sale of its utility assets to I.C.G. Utilities (British Columbia) Ltd. ("lCG (B.C.)I!) as at 1200:01 a.m., January 1, 1987 in consideration of the assumption by ICG (B.C.) of long-term debt obligation in the amount of $2,020,000. 2. Approval is granted to the issue by I.C.G. Utilities (British Columbia) Ltd. as at 1200:0 I a.m., January 1, 1987 of one (1) share of Common Stock in the name of I.c.G. Utility Investments Ltd. for cash consideration of $2,049,200. 3. Approval is granted to the assumption of liabilities by I.C.G. Utilities (British Columbia) Ltd. in the amount of $183,200 as at 1200:0 I a.m., January 1, 1987. 4. Approval is granted to the sale of all the outstanding Common Shares by I.C.G. Utilities (Canada) Ltd. to I.C.G. Utility Investments January 1,1987. DA TED at the City of Vancouver, in the Province of British Columbia, this / t ;-;:day of December, 1986. BmnSH COlUMB~A U "?'I! IT I I L. Ii 'E S l ~ j o ' , n ~ , ;h , i ' l. ~ , { ;~ " 1 O ' r ! i ORDER G-84-86 NUMBER ______ Island Gas Company Ltd. applied Ltd. effective 1200:005 a.m., BY ORDER / t.L // @"~ L ' /{\../ff/ / /' Chairmal
You are being directed to the most recent version of the statute which may not be the version considered at the time of the judgment.