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2015-66
- Assessment Act
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NEW BRUNSWICK
REGULATION 2015-66
under the
Assessment Act
(O.C. 2015-282)
Filed December 9, 2015
1
Section 3 of New Brunswick Regulation 2005-18 under the Assessment Act is amended
(
a
)
by repealing paragraph (b) and substituting the following:
(
b
)
the organization provides housing accommodation, including rent-to-own housing accommodation, to low-income individuals and families at a rent that is below the market rent for the area in which the real property is located;
(
b
)
by repealing paragraph (h) and substituting the following:
(
h
)
on dissolution of the organization and after payment of all its debts due and liabilities, its remaining property shall be distributed or disposed of to non-profit housing organizations that have objects the same as or similar to the objects of the organization and carry on their work in New Brunswick; and
2
This Regulation comes into force on January 1, 2016.
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