BILL 4

An Act Respecting Petroleum Products Pricing

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

Petroleum Products Pricing Act

1( 1) Section 1 of the Petroleum Products Pricing Act, chapter P-8.05 of the Acts of New Brunswick, 2006, is amended by repealing the definition “cost of carbon adjustor”.

1( 2) Section 4 of the Act is amended

(a)  in subsection (1)

( i) in paragraph (d) of the English version by adding “and” at the end of the paragraph;

( ii) by repealing paragraph (e);

(b)  in subsection (2)

( i) in paragraph (d) of the English version by adding “and” at the end of the paragraph;

( ii) by repealing paragraph (e).

1( 3) The heading “Adjustors” preceding section 13.2 of the Act is repealed and the following is substituted:

Market adjustor

1( 4) Section 13.2 of the Act is amended by striking out “the cost of carbon adjustor and”.

1( 5) Subsection 14(2.1) of the Act is repealed.

1( 6) Paragraph 33(c.1) of the Act is amended by striking out “the cost of carbon adjustor and”.

Regulation under the Petroleum Products Pricing Act

2( 1) The heading “Cost of carbon adjustor” preceding section 13.2 of New Brunswick Regulation 2006-41 under the Petroleum Products Pricing Act is repealed.

2( 2) Section 13.2 of the Regulation is repealed.