Mr. Speaker, it is a confusing area and we need to manoeuvre through it quite carefully.
The point is that under Bill C-54 if there is a guarantor for a loan of $100,000 from a financial institution to a leadership contestant and that money is not repaid and the bank goes to the guarantor, that does not absolve the leadership contestant from having to obey the election contribution laws.
In my understanding of it, and I would like this to be part of the debate, there would still be the obligation on the political contestant to convert the money that he or she spent during the leadership or nomination process or whatever within 18 months to something that fits within the Federal Accountability Act, in this case individual contributions of $1,100.
I would be very concerned if I am wrong but I do not think I am wrong in saying that the political contestant would not be absolved from responsibility to convert that loan into contributions within the set limits. I think that is true now, let alone under this new bill.