BILL 20

An Act to Amend the Judicature Act

Her Majesty, by and with the advice and consent of the Legislative Assembly of New Brunswick, enacts as follows:

1 Subsection 48(3) of the Judicature Act, chapter J-2 of the Revised Statutes, 1973, is repealed and the following is substituted:

48(3) The Minister of Finance shall keep a separate account of the money paid in to the credit of each cause, and shall allow upon all such money as remains on deposit with him or her more than six months interest in accordance with the regulations from the time when such money has been paid to him or her under the provisions of this Act.

2 Section 73 of the Act is amended by adding after subsection (2) the following:

73(3) The Lieutenant-Governor in Council may make regulations respecting interest for the purposes of subsection 48(3), including, without limiting the generality of the foregoing, the rate of interest and the manner of calculating interest.

COMMENCEMENT

3 This Act comes into force on a day to be fixed by proclamation.

EXPLANATORY NOTES

Section 1

The existing provision is as follows:

48(3) The Minister of Finance shall keep a separate account of the money paid in to the credit of each cause, and shall allow upon all such money as remains on deposit with him more than six months interest from the time when such money has been paid to him under the provisions of this Act.

Section 2

New provision.

Section 3

Commencement provision.