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1 The Fiscal Stabilization Fund Act, chapter F-14.05 of the Acts of New Brunswick, 2001, is repealed.