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.