Thank you, Mr. Chairman. Every effort is made to try to recover any loans that are outstanding to this government by the different organizations. This forgiveness really comes about as the final chapter in writing off the debt, because we fundamentally believe that we can't recover it and we've done it through a variety of processes. One is through a negotiated settlement, two is bankruptcy and three is what we believe is in the public interest. So this is the last bell that we'll toll with respect to the collection of this debt, and this is a means in which to clean it off the books, Mr. Chairman, and to ensure that there's transparency in the exercise. That's why it comes before the Assembly, so the public at large can see it. Thank you.
John Todd on Bill 3: Forgiveness Of Debts Act, 1995-96
In the Legislative Assembly on March 28th, 1996. See this statement in context.
Bill 3: Forgiveness Of Debts Act, 1995-96
Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters
March 27th, 1996
Page 124
John Todd Keewatin Central
See context to find out what was said next.