On June 13, 2003 the House of Commons passed the most sweeping amendments to the Canada Elections Act in thirty years. The Senate, in turn, passed the Bill without amendment on June 19, 2003. Royal assent was also obtained and the Bill becomes law on January 1, 2004. The amendments dealing primarily with contributions to political parties, candidates and leadership aspirants of registered political parties fundamentally change the financing of the political process in Canada. For the first time, the legislation sets limits on the political contributions by individuals, corporations, unions and associations. A significant portion of election funding for candidates and parties will now come from the public treasury, pursuant to a funding formula based on the previous general election results.

type Government Relations Bulletin, July 2003 - Political Financing A New Beginning in Canada