Mr. Chairman, I appreciate the Member's comments. The figure is arbitrary, but it was set looking at the real estate market and the average transactions involved, and it was also set in consultation with the insurance industry when the bill was first introduced. It is an arbitrary figure, but it was felt it would provide adequate protection considering the size of most transactions.
Dennis Patterson on Item 18: Consideration In Committee Of The Whole Of Bills And Other Matters
In the Legislative Assembly on June 19th, 1992. See this statement in context.
Item 18: Consideration In Committee Of The Whole Of Bills And Other Matters
Item 18: Consideration In Committee Of The Whole Of Bills And Other Matters
June 18th, 1992
Page 687
Dennis Patterson Iqaluit
See context to find out what was said next.