(Translation) Thank you Mr. Chairman. I am pleased to report on the review of Bill 17, The Business Corporations Act, by the Standing Committee on Social Programs. Our committee held a public hearing, on this bill on October 3rd. The Minister appeared before us and provided answers to our questions. Overall, the committee is pleased with this bill.

The changes bring our legislation in line with our business corporations legislation across the country. The bill simplifies many areas relating to commercial practice. These changes are very appropriate at a time when, as a government, we are encouraging economic development, and promoting small businesses. There should also be less confusion, because the Bill will get rid of some overlap with other legislation, relating to businesses.

The most notable improvement in this bill is the expansion on identification of rights of minority shareholders. The rights are now more clear, and there should be less need for minority shareholders to go to the courts, where there are concerns.

The bill has provisions to ensure it is fully enforced prior to division. The committee did not have any major concerns with this bill. We believe the changes will be well received by the business community and will give us progressive business legislation consistent with our partners across the country. Thank you, Mr. Chairman.