Thank you, Mr. Chairman. The Standing Committee on Legislation met to review Bill 5 on February 26, 1994. Many thanks to the Minister of Justice and his officials from the Department of Justice for presenting this bill and responding to the questions of the Members. This bill amends the Partnership Act to change the venue for registering a partnership. Anticipating the dissolution of the document registry, this bill amends the legislation to change the venue for registering documents under the act from the document registry to the registrar of companies under the Companies Act. Further, the bill amends the legislation to change the time required to register partnership declarations from six months to 60 days. Finally, the bill amends the legislation that will recognize limited partnerships registered outside of the Northwest Territories. Including this section in the legislation should clear up any confusion that businesses involving extra-territorial limited partnerships have had when wishing to do business in the Northwest Territories.

The Standing Committee on Legislation supports the proposed bill and is satisfied that the amendment will assist in encouraging business investment in the North. Thank you, Mr. Chairman.