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FORM 18-K
FOR FOREIGN GOVERNMENTS AND POLITICAL SUBDIVISIONS THEREOF
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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ANNUAL REPORT
OF
PROVINCE OF BRITISH COLUMBIA
(CANADA)
(NAME OF REGISTRANT)
DATE OF END OF FISCAL YEAR TO WHICH THIS ANNUAL REPORT RELATES: MARCH 31, 2003
SECURITIES REGISTERED*
(AS OF THE CLOSE OF THE FISCAL YEAR)
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Names of exchanges
Amounts as to which on which
Title of issue registration is effective registered
N/A N/A N/A
</Table>
NAMES AND ADDRESSES OF PERSONS AUTHORIZED TO RECEIVE NOTICES AND
COMMUNICATIONS FROM THE SECURITIES AND EXCHANGE COMMISSION:
HONOURABLE PAMELA WALLIN
BRIAN SCHUMACHER
DAVID MURCHISON
CANADIAN CONSULATE GENERAL
1251 AVENUE OF AMERICAS
NEW YORK, NEW YORK 10020
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COPIES TO
Brice T. Voran Winthrop B. Conrad, Jr. Ministry of Finance
Shearman & Sterling LLP Davis Polk & Wardwell Provincial Treasury
Commerce Court West 450 Lexington Avenue Debt Management Branch
199 Bay Street New York, New York 10017 2nd Floor
Suite 4405, 620 Superior Street
P.O. Box 247 P.O. Box 9423, Stn Prov Govt
Toronto, Ontario, Victoria, British Columbia,
Canada Canada V8W 9V1
M5L 1E8
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* THE REGISTRANT IS FILING THIS ANNUAL REPORT ON A VOLUNTARY BASIS
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PROVINCE OF BRITISH COLUMBIA
THE INFORMATION SET FORTH BELOW IS TO BE FURNISHED:
1. IN RESPECT OF EACH ISSUE OF SECURITIES OF THE REGISTRANT REGISTERED, A BRIEF
STATEMENT AS TO:
(a) THE GENERAL EFFECT OF ANY MATERIAL MODIFICATIONS, NOT PREVIOUSLY
REPORTED, OF THE RIGHTS OF THE HOLDERS OF SUCH SECURITIES.
None.
(b) THE TITLE AND THE MATERIAL PROVISIONS OF ANY LAW, DECREE OR
ADMINISTRATIVE ACTION, NOT PREVIOUSLY REPORTED, BY REASON OF WHICH THE
SECURITY IS NOT BEING SERVICED IN ACCORDANCE WITH THE TERMS THEREOF.
None.
(c) THE CIRCUMSTANCES OF ANY OTHER FAILURE, NOT PREVIOUSLY REPORTED, TO PAY
PRINCIPAL, INTEREST, OR ANY SINKING FUND OR AMORTIZATION INSTALLMENT.
None.
2. A STATEMENT AS OF THE CLOSE OF THE FISCAL YEAR OF THE REGISTRANT TO WHICH
THIS ANNUAL REPORT RELATES GIVING THE TOTAL OUTSTANDING OF:
(a) INTERNAL FUNDED DEBT OF THE REGISTRANT. (TOTAL TO BE STATED IN THE
CURRENCY OF THE REGISTRANT. IF ANY INTERNAL FUNDED DEBT IS PAYABLE IN A
FOREIGN CURRENCY, IT SHOULD NOT BE INCLUDED UNDER THIS PARAGRAPH (A), BUT
UNDER PARAGRAPH (B) OF THIS ITEM.)
Certain information concerning internal funded debt of the registrant is
included in Exhibit 99.3 hereto and is incorporated by reference herein.
(b) EXTERNAL FUNDED DEBT OF THE REGISTRANT. (TOTALS TO BE STATED IN THE
RESPECTIVE CURRENCIES IN WHICH PAYABLE. NO STATEMENT NEED BE FURNISHED AS
TO INTERGOVERNMENTAL DEBT.)
Certain information concerning external funded debt of the registrant is
included in Exhibit 99.3 hereto and is incorporated by reference herein.
3. A STATEMENT GIVING THE TITLE, YEAR OF ISSUE, DATE OF MATURITY, INTEREST RATE
AND AMOUNT OUTSTANDING, TOGETHER WITH THE CURRENCY OR CURRENCIES IN WHICH
PAYABLE, OF EACH ISSUE OF FUNDED DEBT OF THE REGISTRANT OUTSTANDING AS OF
THE CLOSE OF THE FISCAL YEAR OF THE REGISTRANT TO WHICH THE ANNUAL REPORT
RELATES.
Certain information concerning the funded debt of the registrant is included
in Exhibit 99.3 hereto and is incorporated by reference herein.
2
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4. (a) AS TO EACH ISSUE OF SECURITIES OF THE REGISTRANT WHICH IS REGISTERED,
THERE SHOULD BE FURNISHED A BREAK-DOWN OF THE TOTAL AMOUNT OUTSTANDING, AS
SHOWN IN ITEM 3, INTO THE FOLLOWING:
(1) TOTAL AMOUNT HELD BY OR FOR THE ACCOUNT OF THE REGISTRANT.
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<Caption>
TOTAL AMOUNT HELD
BY OR FOR THE
ACCOUNT OF THE
SERIES DATE OF MATURITY YEAR OF ISSUE INTEREST RATE REGISTRANT
------ ----------------- ------------- ------------- -----------------
BCUSD-2............... January 15, 2026 1996 6.50 US$ 28,029,000
BCUSD-3............... September 1, 2036 1996 7.25 US$ 34,956,000
BCUSD-4............... June 20, 2007 2002 Floating US$ 0
BCUSG-1............... October 29, 2008 1998/2001 5.38 US$ 0
BCUSG-2............... October 13, 2006 2001 4.63 US$ 0
BCCG-1................ June 16, 2003 1993 7.75 C$ 44,117,563
BCCG-2................ December 1, 2006 1999/2001 5.25 C$ 4,500,000
BCCG-3................ June 1, 2009 2002 5.70 C$ 23,350,000
</Table>
(2) TOTAL ESTIMATED AMOUNT HELD BY NATIONALS OF THE REGISTRANT (OR IF
REGISTRANT IS OTHER THAN A NATIONAL GOVERNMENT BY THE NATIONALS OF
ITS NATIONAL GOVERNMENT); THIS ESTIMATE NEED BE FURNISHED ONLY IF IT
IS PRACTICABLE TO DO SO.
Not practicable to furnish.
(3) TOTAL AMOUNT OTHERWISE OUTSTANDING.
<Table>
<Caption>
TOTAL AMOUNT
OTHERWISE
SERIES DATE OF MATURITY YEAR OF ISSUE INTEREST RATE OUTSTANDING
------ ----------------- ------------- ------------- ----------------
BCUSD-2.............. January 15, 2026 1996 6.50 US$ 471,971,000
BCUSD-3.............. September 1, 2036 1996 7.25 US$ 265,044,000
BCUSD-4.............. June 20, 2007 2002 Floating US$ 150,000,000
BCUSG-1.............. October 29, 2008 1998/2001 5.38 US$ 750,000,000
BCUSG-2.............. October 13, 2006 2001 4.63 US$ 750,000,000
BCCG-1............... June 16, 2003 1993 7.75 C$ 1,205,882,437
BCCG-2............... December 1, 2006 1999/2001 5.25 C$ 1,245,500,000
BCCG-3............... June 1, 2009 2002 5.70 C$ 726,650,000
</Table>
(b) IF A SUBSTANTIAL AMOUNT IS SET FORTH IN ANSWER TO PARAGRAPH (a)(1)
ABOVE, DESCRIBE BRIEFLY THE METHOD EMPLOYED BY THE REGISTRANT TO
REACQUIRE SUCH SECURITIES.
The securities were acquired by means of open market purchases.
5. A STATEMENT AS OF THE CLOSE OF THE FISCAL YEAR OF THE REGISTRANT TO WHICH
THIS ANNUAL REPORT RELATES GIVING THE ESTIMATED TOTAL OF:
(a) INTERNAL FLOATING INDEBTEDNESS OF THE REGISTRANT. (TOTAL TO BE STATED IN
THE CURRENCY OF THE REGISTRANT.)
Certain information concerning internal floating indebtedness of the
registrant is included in Exhibit 99.3 hereto and is incorporated by
reference herein.
(b) EXTERNAL FLOATING INDEBTEDNESS OF THE REGISTRANT. (TOTAL TO BE STATED IN
THE RESPECTIVE CURRENCIES IN WHICH PAYABLE.)
Certain information concerning external floating indebtedness of the
registrant is included in Exhibit 99.3 hereto and is incorporated by
reference herein.
3
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6. STATEMENTS OF THE RECEIPTS, CLASSIFIED BY SOURCE, AND OF THE EXPENDITURES,
CLASSIFIED BY PURPOSE, OF THE REGISTRANT FOR EACH FISCAL YEAR OF THE
REGISTRANT ENDED SINCE THE CLOSE OF THE LATEST FISCAL YEAR FOR WHICH SUCH
INFORMATION WAS PREVIOUSLY REPORTED. THESE STATEMENTS SHOULD BE SO ITEMIZED
AS TO BE REASONABLY INFORMATIVE AND SHOULD COVER BOTH ORDINARY AND
EXTRAORDINARY RECEIPTS AND EXPENDITURES; THERE SHOULD BE INDICATED
SEPARATELY, IF PRACTICABLE, THE AMOUNT OF RECEIPTS PLEDGED OR OTHERWISE
SPECIFICALLY ALLOCATED TO ANY ISSUE REGISTERED, INDICATING THE ISSUE.
Certain information concerning revenue and expenditure of the registrant is
included in Exhibit 99.5 hereto and is incorporated by reference herein.
7. (a) IF ANY FOREIGN EXCHANGE CONTROL, NOT PREVIOUSLY REPORTED, HAS BEEN
ESTABLISHED BY THE REGISTRANT (OR IF THE REGISTRANT IS OTHER THAN A NATIONAL
GOVERNMENT, BY ITS NATIONAL GOVERNMENT), BRIEFLY DESCRIBE THE EFFECT OF
ANY SUCH ACTION, NOT PREVIOUSLY REPORTED.
None.
(b) IF ANY FOREIGN EXCHANGE CONTROL PREVIOUSLY REPORTED HAS BEEN
DISCONTINUED OR MATERIALLY MODIFIED, BRIEFLY DESCRIBE THE EFFECT OF ANY
SUCH ACTION, NOT PREVIOUSLY REPORTED.
Not applicable.
THIS ANNUAL REPORT COMPRISES:
(a) PAGES NUMBERED 1 TO 5 CONSECUTIVELY.
(b) THE FOLLOWING EXHIBITS:
Exhibit (a) -- None
Exhibit (b) -- None.
Exhibit (c) -- Copy of the British Columbia Budget 2003 (incorporated by
reference to Amendment No. 3 on Form 18-K/A to the registrant's Annual
Report on Form 18-K relating to the fiscal year ended March 31, 2002.)
ADDITIONAL EXHIBITS
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Exhibit (99.1) Cross-reference sheet -- 2003 British Columbia Financial and
Economic Review
(99.2) Cross-reference Sheet -- 2002/03 Public Accounts
(99.3) Additional Information relating to the Province
(99.4) 2003 British Columbia Financial and Economic Review
(99.5) 2002/03 Public Accounts
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THIS ANNUAL REPORT IS FILED SUBJECT TO THE INSTRUCTIONS FOR FORM 18-K
FOR FOREIGN GOVERNMENTS AND POLITICAL SUBDIVISIONS THEREOF.
4
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SIGNATURE
Pursuant to the requirements of the SECURITIES EXCHANGE ACT OF 1934, the
registrant has duly caused this annual report to be signed on its behalf by the
undersigned, thereunto duly authorized, at Victoria, British Columbia on the
day of August, 2003.
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PROVINCE OF BRITISH COLUMBIA
(Name of registrant)
By: /s/DAVID MORHART
Name: David Morhart
Title: Assistant Deputy Minister
Provincial Treasury and
Registries
Ministry of Finance
</Table>
5
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EXHIBIT INDEX
Exhibit (a) -- None
Exhibit (b) -- None
Exhibit (c) -- Copy of the BRITISH COLUMBIA BUDGET 2003 (incorporated by
reference to Amendment No. 3 on Form 18-K/A to the registrant's
Annual Report on Form 18-K relating to the fiscal year ended
March 31, 2002.)
ADDITIONAL EXHIBITS
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Exhibit (99.1) Cross-reference sheet -- 2003 BRITISH COLUMBIA FINANCIAL AND
ECONOMIC REVIEW
(99.2) Cross-reference Sheet -- 2002/03 PUBLIC ACCOUNTS
(99.3) Additional Information relating to the Province
(99.4) 2003 BRITISH COLUMBIA FINANCIAL AND ECONOMIC REVIEW
(99.5) 2002/03 PUBLIC ACCOUNTS
</Table>