Legislative Assembly of New Brunswick
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+ An Act to Repeal the Fiscal Stabilization Fund Act

Legislature :
54
Session :
5
Bill No. :
24
Member :
Mr. Shawn Graham
First Reading :
2002-12-18
Second Reading :
Committee of the Whole :
Amended :
Third Reading :
Royal Assent :
Download PDF :
Bill 24

Text of Bill :



Whereas the Auditor General has stated that the Fiscal Stabilization Fund has no effect at all on the financial statements of the Province;



Whereas the Auditor General has further stated that for financial statement purposes, the Fiscal Stabilization Fund is stated as if it does not exist;



Whereas the Auditor General has referred to the confusion created by the use of the Fiscal Stabilization Fund;



Whereas the Auditor General has concluded that transferring money into or out of the Fiscal Stabilization Fund does not increase or decrease the finances of the Province as a whole.



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



1                           The Fiscal Stabilization Fund Act, chapter F-14.05 of the Acts of New Brunswick, 2001, is repealed.




 

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