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A-18.1, r. 6 - Regulation respecting the method for assessing the annual royalty and the method and frequency for assessing the market value of standing timber purchased by guarantee holders pursuant to their timber supply guarantee
Section 4.0.3
Disposition versions
4.0.3. To assess the amount payable by the holder of a timber supply guarantee as the second instalment of the annual royalty, pursuant to section 1 of the Regulation respecting the terms of payment of the annual royalty and timber purchased by guarantee holders pursuant to their timber supply guarantee (chapter A‑18.1, r. 6.1), an adjusted annual royalty for the calculation of the second instalment must first be calculated using the following formula:
P = (I – M – 50% Q – N – R) × (18% A), where
(1) “P” is the adjusted annual royalty for the calculation of the second instalment;
(2) “I” is the volume of timber specified in the holder’s timber supply guarantee;
(3) “M” is the volume of timber, not covered by a special development plan, that the holder has waived or is deemed to have waived at the time the sales contract is made for the standing timber purchased pursuant to the holder’s timber supply guarantee;
(4) “Q” is the volume of timber, not covered by a special development plan, that the holder waived after the time the sales contract was made for the standing timber purchased pursuant to the holder’s timber supply guarantee, but not later than 15 August of the harvest year;
(5) “N” is the volume of timber, covered by a special development plan, that the holder has waived or is deemed to have waived at the time the sales contract is made for the standing timber purchased pursuant to the holder’s timber supply guarantee;
(6) “R” is the volume of timber, covered by a special development plan, that the holder waived after the time the sales contract was made for the standing timber purchased pursuant to the holder’s timber supply guarantee, but not later than 15 August of the harvest year;
(7) “A” is the adjusted average market value of standing timber per cubic metre used to calculate the annual royalty, calculated in accordance with the first or second paragraph of section 2.
