This is page numbers 1075 - 1108 of the Hansard for the 12th Assembly, 7th Session. The original version can be accessed on the Legislative Assembly's website or by contacting the Legislative Assembly Library. The word of the day was chairman.

Topics

Bill 30: Deficit Elimination Act
Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters

Page 1096

Jim Antoine Nahendeh

Mr. Chairman, I was going to ask, if Clause 6 was agreed upon, which I assumed it was but now I am told that it wasn't yet, so perhaps I will wait until it's been agreed upon before I proceed. Thank you.

Bill 30: Deficit Elimination Act
Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters

Page 1096

The Chair John Ningark

I have not ruled that Clause 6 is approved. Mr. Koe.

Bill 30: Deficit Elimination Act
Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters

Page 1096

Fred Koe Inuvik

On the bill it lays some extreme penalties in case of incurring deficits. What happens in the reverse? What if they get surpluses? Will everybody get bonuses?

---Laughter

Bill 30: Deficit Elimination Act
Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters

Page 1096

The Chair John Ningark

Thank you. Clause 6. Order, please. Order. Mr. Antoine.

Bill 30: Deficit Elimination Act
Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters

Page 1096

Jim Antoine Nahendeh

Mr. Chairman, I seek unanimous consent to introduce a motion to add a preamble to Bill 30, the Deficit Elimination Act. Thank you.

Bill 30: Deficit Elimination Act
Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters

Page 1096

The Chair John Ningark

Thank you. The honourable Member for Nahendeh is seeking unanimous consent. Do we have unanimous consent?

Bill 30: Deficit Elimination Act
Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters

Page 1096

Some Hon. Members

Agreed.

---Agreed

Bill 30: Deficit Elimination Act
Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters

Page 1096

The Chair John Ningark

Mr. Antoine, please proceed with your motion.

Committee Motion 47-12(7): To Add Preamble To Bill 30, Carried
Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters

Page 1096

Jim Antoine Nahendeh

Thank you, colleagues. Mr. Chairman, I move that Bill 30 be amended by adding the following after the title "Motion, Deficit Elimination Act," that Bill 30 be amended by adding the following after the title:

Whereas the Legislative Assembly recognizes the creation of the Nunavut territory and the new western territory in 1999;

Whereas the Legislative Assembly recognizes that it will be necessary to divide the assets and liabilities of the Northwest Territories in a fair and equitable manner in preparation for division of the Northwest Territories;

Whereas the Legislative Assembly is aware of it's responsibility to ensure that no significant financial burden encumbers either the Nunavut territory or the new western territory;

Whereas the Legislative Assembly commits, in principle, to the concept of a balanced budget."

Thank you, Mr. Chairman.

Committee Motion 47-12(7): To Add Preamble To Bill 30, Carried
Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters

Page 1096

The Chair John Ningark

Thank you, Mr. Antoine. The motion is in order. To the motion.

Committee Motion 47-12(7): To Add Preamble To Bill 30, Carried
Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters

Page 1096

An Hon. Member

Question.

Committee Motion 47-12(7): To Add Preamble To Bill 30, Carried
Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters

Page 1096

The Speaker Samuel Gargan

Question has been called. All those in favour? All those opposed? Motion is carried.

---Carried

The bill as a whole, as amended.

Committee Motion 47-12(7): To Add Preamble To Bill 30, Carried
Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters

Page 1096

Some Hon. Members

Agreed.

---Agreed

Committee Motion 47-12(7): To Add Preamble To Bill 30, Carried
Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters

Page 1097

The Chair John Ningark

Qujannamiik. Does the committee agree that Bill 30 is now ready for third reading, as amended?

Committee Motion 47-12(7): To Add Preamble To Bill 30, Carried
Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters

Page 1097

Some Hon. Members

Agreed.

---Agreed

Committee Motion 47-12(7): To Add Preamble To Bill 30, Carried
Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters

Page 1097

The Chair John Ningark

Bill 30 is now ready for third reading, as amended. We're dealing with the next item. I would like to thank the Minister and the witness for appearing before the committee. Thank you, Mr. Pollard.

Bill 16: An Act To Amend The Retirement Plan Beneficiaries Act
Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters

April 26th, 1995

Page 1097

The Chair John Ningark

The next item was Bill 16, An Act to Amend the Retirement Plan Beneficiaries Act. Mr. Kakfwi.

Minister's Introductory Remarks

Bill 16: An Act To Amend The Retirement Plan Beneficiaries Act
Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters

Page 1097

Stephen Kakfwi

Stephen Kakfwi Sahtu

Thank you, Mr. Chairman. Our Retirement Plan Beneficiaries Act provides that the owners of certain retirement and pension plans may designate a beneficiary who would receive the benefits of such a plan, in the event that the owner of a plan died without a will. Our act is based on uniform legislation developed in the 1970s by representatives of the federal, provincial and territorial governments. The intention was that the owner of a registered retirement savings plan, or an RRSP, could designate a beneficiary without a will in the same manner as other pension plans.

Recent cases in Alberta, Manitoba, and Ontario have raised questions about the effectiveness of such designation of beneficiaries with respect to these funds. All other jurisdictions with wording similar to that in our act have now amended their legislation to make it clear that RRSPs could be covered by a designation. Most have also passed amendments to cover registered retirement income funds, or RRIFs.

In the Northwest Territories, members of the public presently designate beneficiaries under the impression that their designation is effective. At least one bank has circulated a caution to customers that such designations may not be effective. This is the sort of matter which the public would expect to be uniform across Canada because RRSPs are portable and marked nationally.

The amendment would remove all doubt about this matter and the public and vendors of these plans would have the comfort that designations of beneficiaries for RRSPs and RRIFs are legally secure. The amendment would also allow for the Commissioner and Executive Council to include future plans and funds in the definition of "plans" by order so that amendments will not be required when new types of plans are developed which do not fit neatly into the definition of "plans" in the act. For example, RRIFs did not exist when the legislation was developed in the 1970s.

Mr. Chairman, if there are any questions, I shall be happy to ask my officials to help me answer them. Thank you.

Bill 16: An Act To Amend The Retirement Plan Beneficiaries Act
Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters

Page 1097

The Chair John Ningark

Thank you. On behalf of the Standing Committee on Legislation, Mr. Whitford, do you have opening comments?

Standing Committee On Legislation Comments

Bill 16: An Act To Amend The Retirement Plan Beneficiaries Act
Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters

Page 1097

Tony Whitford

Tony Whitford Yellowknife South

Thank you, Mr. Chairman. Mr. Chairman, the Standing Committee on Legislation has completed its review of Bill 16, An Act to Amend the Retirement Plan Beneficiaries Act. The committee held a public hearing on this bill on Monday, March 27, 1995, in Yellowknife. The Minister of Justice attended to present the bill and respond to the concerns of the committee.

The committee did not receive any presentations from the public on this bill. The standing committee was satisfied that the proposed amendments will serve to clarify that retirement saving plans and retirement income funds are plans for which northerners have the right to designate a beneficiary in the same manner as other pension plans. The committee was also assured that a beneficiary could include any legal entity, including charities.

After careful consideration, the Standing Committee on Legislation is pleased to support these amendments. Mr. Chairman, that concludes the standing committee's report on Bill 16, An Act to Amend the Retirement Plan Beneficiaries Act. On March 27, 1995, the committee passed a motion that this bill be reported to the Legislative Assembly as ready for consideration in committee of the whole. Thank you.

Bill 16: An Act To Amend The Retirement Plan Beneficiaries Act
Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters

Page 1097

The Chair John Ningark

Thank you. Mr. Minister has indicated that he wants to bring in the witnesses. Do we have agreement?

Bill 16: An Act To Amend The Retirement Plan Beneficiaries Act
Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters

Page 1097

Some Hon. Members

Agreed.

---Agreed

Bill 16: An Act To Amend The Retirement Plan Beneficiaries Act
Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters

Page 1097

The Chair John Ningark

Proceed, Mr. Minister. Sergeant-at-Arms, please escort the witnesses.

Thank you. Mr. Minister, please introduce the witnesses for the record.

Bill 16: An Act To Amend The Retirement Plan Beneficiaries Act
Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters

Page 1097

Stephen Kakfwi

Stephen Kakfwi Sahtu

Thank you, Mr. Chairman. On my right is legislative counsel, Diane Buckland and on my left is Gerald Sutton, director of policy and planning for the Department of Justice.

Bill 16: An Act To Amend The Retirement Plan Beneficiaries Act
Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters

Page 1097

The Chair John Ningark

Thank you. We are dealing with Bill 16, An Act to Amend the Retirement Plan Beneficiaries Act. The floor is now open for general comments.