BILL 50

An Act to Amend the Financial Administration Act

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

1                  The Financial Administration Act, chapter 160 of the Revised Statutes, 2011, is amended by adding after section 42 the following:

42.1            In accordance with the following schedule, the Minister shall publish quarterly fiscal updates that contain revised forecasts of the economic situation and financial condition of the Province for the current fiscal year:

(a)          within 60 days after the end of the first quarter of the fiscal year; and

(b)          within 45 days after the end of the second and third quarters of the fiscal year.