November 3, 2011 •
Loan Prohibition Proposed
Tim Uppal, Canada’s Minister of State for Democratic Reform has proposed a law which would limit loans available to candidates and political parties.
Under the proposed legislation, loans, loan guarantees, and contributions from individuals would be prohibited from exceeding $1,100 in the aggregate per calendar year. Presently, loans are not treated as part of the annual aggregate limit.
The proposal would also ban loans by unions as well as corporations when the loans are not made in the regular course of business by a financial institution.
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