Mr. Chairman, it has been pointed out and recognized by not only ourselves, but members of the public, who find difficulty with our broad range of what is considered to be outdated legislation. The fact that almost all other jurisdictions in Canada have adopted legislation that is similar to this, which is what we are proposing, I think reflects that. In simple language, I believe that making these types of services in government available by computerizing it is a large argument in its favour. The days when we write manually, by hand or typing into large ledgers, the type of information that we are obliged to keep, has to end. The year 1994 is a very good year to end it. Because the type of information that we are obliged to keep for lenders and borrowers is manual, it is not available to be accessed from Inuvik, Iqaluit, Rankin Inlet, Norman Wells or any of the communities. You largely have to ask somebody by phone or by letter to go and do searches for you in the courthouse where these documents are kept.

One of the points we make in our presentation is that we think we can decentralize this service by making it available through networking with the regional offices and just through accessing it on the government's computer system. Checking the status of an automobile or other equipment through serial numbers is, again, something that would greatly expedite business for many people. I think it will help people do business much faster by checking for all the borrowers and lenders who have interests in certain things, such as ski-doos, automobiles and trucks, by just tapping a serial number into a computer. Those are the simple ones. I guess there are more technical ones than those. As to what kicks out on a computer screen is another one.

As I understand it, right now it is all kept in one place for a manual system for all the details you want to know about certain items. A computer system, I think, will restrict access. It will contain all the information you want about certain items of business interest, but it would not allow everybody to access all the financial information. There is quick, easy access, but there is a way to restrict it, as well. That is the point I made in my opening comments.

I said we're setting up one act so it's comprehensive, one set of rules to govern all the different interests that require some element of security for the parties involved. It simplifies it, it makes it comprehensive and we catch up to the rest of Canada. Thank you.