Mr. Speaker, I move, seconded by the honourable Member for Mackenzie Delta, that Bill 3, An Act to Amend the Judicature Act, be read for the second time.

Mr. Speaker, this bill amends the Judicature Act to provide that the rate of prejudgment and post-judgment interest will be determined twice each year on the basis of the "prime business rate" published in the Bank of Canada review. The bill provides that a court has discretion to disallow prejudgment or post-judgment interest, increase or decrease the rate of interest, or fix the day from which interest is to run. Thank you.