I am going to ask some questions regarding third party financing. The bill seeks to close what are significant loopholes that allow for foreign funds to be used by third parties for regulated pre-election and election activities by requiring third parties to set up separate bank accounts for those activities and only use contributions from individual Canadians and permanent residents.
However, the bill provides an exception to this requirement. That exception is that if contributions received by the third party during the previous year are equal to or less than 10% of its revenue for that year, the third party may use its own funds. On what basis was this 10% threshold arrived at? Why 10%?