Mr. Speaker, I move, seconded by the honourable Member for Weledeh that Bill 1, Legal Registries Statutes Amendment Act, be read for the third time. Thank you, Mr. Speaker.

Thank you, Mr. Speaker.

I MOVE, seconded by the honourable Member for Weledeh, that Bill 1, Legal Registries Statutes Amendment Act, be read for the second time.

Mr. Speaker, this bill amends the Business Corporations Act, the Condominium Act, the Devolution of Real Property Act, the Factors Act, the Garage Keepers Lien Act, the Land Titles Act, the Personal Property Security Act, the Securities Act and the Societies Act. This bill also repeals the Firearms Control Agreements Act, which has ceased to have any effect.

Schedule A, Amendments to the Business Corporations Act. The Business Corporations Act is amended to provide that the registrar under that act is also the registrar under the Companies Act to the extent that it still operates, to clarify requirements for the reinstatement of a cancelled registration of an extra-territorial corporation and to repeal a spent transitional provision.

Schedule B, Amendments to the Condominium Act. The Condominium Act is amended to:

• • eliminate the redundant requirement to issue a certification of title to a condominium corporation and to maintain a separate register of condominium documents;
• • permit bylaws to be submitted concurrently with a plan and declaration when a condominium is registered;
• • permit a condominium corporation to encumber common elements with the approval of the owners;
• • clarify, in the care of leasehold condominiums, that a certificate of title is to be issued to the leasehold owners and that leasehold owners may freely transfer their ownership; and
• • add termination provisions applicable to leasehold condominiums.

Schedule C, Amendment to Devolution of Real Property Act. The Devolution of Real Property Act is amended to clarify one provision.

Schedule D, Amendments to the Factors Act. The Factors Act is amended to clarify several provisions.

Schedule E, Amendment to the Garage Keepers Lien Act. The Garage Keepers Lien Act is amended to provide that the Sheriff may seize a motor vehicle upon receiving a current search result confirming registration of the financing statement rather than a certified copy of a financing statement, as is presently required.

Schedule F, Amendments to the Land Titles Act. The Land Titles Act is amended to:

• • eliminate duplicate certificates of title unless an owner requests a duplicate;
• • permit the registrar to produce a descriptive plan and cancel and replace existing certificates of title by reference to the new plan;
• • permit plans to deal more effectively with changes in natural boundaries;
• • permit standard form mortgages to be filed;
• • extend the period of time that a writ is valid before it must be renewed;
• • provide that an order to maintain the registration of a caveat does not stop all dealings with the land;
• • include sliding scale fees that are currently in the regulations;
• • remove references to the district of the registrar, and
• • clarify the language of a number of provisions and correct certain references.

Schedule G, Amendments to Personal Property Security Act. The Personal Property Security Act is amended to:

• • refer to "serial numbered goods" consistently throughout the act;
• • correct provisions that no longer apply relating to the service of documents on a corporation; and
• • clarify that the regulations may permit the registration in the Registry of Interests arising under federal, provincial or territorial laws.

Schedule H, Amendments to the Securities Act. The Securities Act is amended to:

• • replace several terms used in the act with the terms most commonly used in securities legislation in Canada;
• • remove the trustee exemption from the list of registration exemptions;
• • include registration provisions enabling the Northwest Territories to participate in the implementation of a permanent, electronic registration system currently being developed at the instance of all provinces and territories;
• • further extend the ability of filers to submit and the registrar to accept non-paper filings; and
• • providing for the maintenance, storage, copying and public access to records of the registrar, and recognizing the authority of the registrar to maintain certain records in confidence.

Schedule I, Amendments to the Societies Act. The Societies Act is amended to:

• • make the corporate seal optional;
• • permit meetings to be held by telephone conference or other similar means;
• • permit a unanimous resolution in writing without the need to hold a meeting;
• • permit the amalgamation of two or more societies;
• • replace the dissolution provisions with provisions more consistent with the Business Corporations Act;
• • permit the revival of a society that has been dissolved; and
• • repeal spent transitional provisions.

Thank you, Mr. Speaker.

Thank you, Mr. Speaker.

I MOVE, seconded by the honourable Member for Yellowknife Centre, that Bill 1, Legal Registries Statutes Amendment Act, be read for the first time. Thank you, Mr. Speaker.