THE CORPORATION OF TRE _CTTY OF PORT COQUITLAM

BY-LAG NO. 1495

A By-law to amend the "City of Port Coquitlam Businers YE

By-law, 1973, No. 1237".

The Municipal Council of The Corporation of the City of Port
Coquitlam, in open meeting assembled, enacts as follows:
1. Section 1 of the "City of Port Coquitlam Business License By-law,

1973, No. 1237" is amended by inserting, after clause (f) the following as

clause (g):
‘

"(g) '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 Municipal Act .
‘to perform that or a similar function."

2. ' The By~law is further amended by inserting, after Section 17, the

following as Section 17A: ,

"17A. (a) 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

net 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.

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.

On or before the 30th day of September in each year, every
Taxbuyer shali 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. Schedule "A" of the By-law Is amended by inserting, immediately

following Section 91, the fellowing class of business as Section 91A: