42.01(1)If an individual waives the right to recover a loan provided under section 39, the principal and interest outstanding on the loan are deemed to be a contribution on the date of the waiver and are subject to the applicable limits under section 39.

42.01(2)A payment made by a surety or guarantor in respect of a loan is deemed to be a contribution and is subject to the applicable limits under section 39.

42.01(3)A payment made by an individual in respect of a loan is deemed to be a contribution and is subject to the applicable limits under section 39.

42.01(4)A contribution under subsection (2) or (3) shall be deemed to have been made on the date when the payment is received by the official representative of the registered political party, registered district association, registered independent candidate, leadership contestant or nomination contestant for whom or for which it is intended or, if the payment is made directly on the loan, on the date of payment.