Madam Speaker, it is up to the banks to make that decision on how they will make the loan or if they will make that loan. We as a government cannot tell a bank what criteria to look at when it makes a loan to many different types of candidates. It could be a nomination contestant. It could be a contestant in an election who has already been nominated by the party. It could be a leadership contestant, possibly the front-runner or possibly a person who has no chance of winning at all in the minds of the bank. This decision needs to be made by the individual bank.
It is not just banks. It is also insurers and credit unions. A number of official institutions would make those loans as long as they were open and transparent about the terms and conditions and who the guarantors would be for that loan. One's family, friends and other individuals can guarantee the loan to the maximum contribution limit.
The bill is about bringing more accountability and transparency to the entire political financing regime.