BILL 13

An Act to Amend the Political Process Financing Act

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

1                  Paragraph 2(1)(c) of the Political Process Financing Act, chapter P-9.3 of the Acts of New Brunswick, 1978, is repealed and the following is substituted:

(c)          a loan granted for political purposes at a rate of interest not below prime at the time it is granted, provided

(i)      the loan repayment terms provide for regular periodic payments which are consistent with those in the commercial financial market,

(ii)     the loan repayment terms are filed with the Supervisor, and

(iii)   proof of payments made by the political party under the loan repayment terms are filed with the Supervisor;