BY-LAW No, 4979

A By-law to amend By~law No. 4450,
being the License By-law

THE COUNCIL OF THE CITY OF VANCOUVER in open
meeting assembled enacts as follows:

2. Section 2 of By-law No. 4450 is amended by
inserting the following immadiately after the definition
of "Steam Bath": .

“ "“Taxbuyer" shall mean a person carrying on the
business of purchasing or otherwise acquiring,
by way of assignment or any other method,
another person's right to claim and receive
a refund of tax paid pursuant to the Income
Tax Act of Canada which is due to such other
Person, but shall not include a person Licensed
under any statute other than the Vancouver
Charter, to perform that or a similar function,
nor shall it include a “broker” or “collection .

agent" as defined in this by-law. .

%. By-law No. 4450 is further amended by inserting
the following immediately after Section 26A:

“  MAXBUYER

26B. (1) Where any person assigns his right to
an income tax refund to a Taxbuyer, the amount
that such Taxbuyer shall pay to such person in’
return for the assignment of such refund shall
not be less than eighty-five per cent thereof
where such refund exceeds One Hundred Dollars
or, where such refund is less than One Hundred
Dollars, the amount of the refund less Fifteen
Dollars.

° (2) When a Taxbuyer receives such income
tax refund and the amount exceeds the amount
assigned by the taxpayer, such excess shall be
remitted to the taxpayer.

(3) On or before the 30th day of September
in each year, every Taxbuyer shall file a list
of all income tax refunds where the sum actually
refunded exceeded the amount assigned. Such
filing shall state the name and address of the
taxpayer, the amount actually refunded, the
amount actually assigned, and the disposition
of the excess.

° 3. This By-law shall come into force and take effect
on and after the date of the passing hereof.

DONE AND PASSED in open Council this 22nd day of
June, 1976.

(Sqd.) A. Phillips
MAYOR

(Sqd.) D. H. Little
7 . . ‘ CITY, CLELK
"i, hereby certify tnat the foregoing is a true and correct copy of.
a By-law passed by the Counctl of the City of Vancouver on the 22nd day
Of June 1976 and nunbered 4979,

Crey CLERK."