Oral questions. Supplementary, Mr. Picco.

MR, PICCO: Thank you, Mr. Speaker. Mr. Speaker, there is no one questioning the integrity of the Aurora Fund manager. There is a perception that this government does a lot of direct appointments. Mr. Speaker, I would like to ask the Premier, on the trip to South East Asia last year, was the current fund manager an employee of the government at that time in his capacity as an employee of the government while you were marketing that fund? Thank you, Mr. Speaker.

Mr. Morin.

Thank you, Mr. Speaker. On the trip to Asia last year, the manager of the fund came as the manager of the fund and I had the honour of having Mr. Vince Steen, an MLA as well, accompany us in promoting that fund, I was very impressed with the ability of the manager of the fund to promote the fund. I was impressed with Mr. Steen's involvement to promote the Northwest Territories in general, and it was a successful trip. It is my understanding we have sold out the Aurora Fund, and it is on its second selling now. There is a very good uptake on this fund and it makes dollars available for partnership with businesses in the north. I understand it even has done some business arrangements with business in the north to purchase some equipment so that they could expand their businesses in the north. Thank you.

Thank you. Oral questions. Supplementary, Mr. Picco.

Thank you, Mr. Speaker. Mr. Speaker, is the Premier saying that the fund manager on the trip to Asia was in actuality an employee of the fund or an employee of the government? Thank you, Mr. Speaker.

Mr. Morin.

Thank you, Mr. Speaker. He was an employee of the fund. He works on a retainer in the fund. He is not a government employee. Thank you.

Oral questions. Final supplementary, Mr. Picco.

Thank you, Mr. Speaker. Mr. Speaker, what I am trying to ask I am not sure if I am getting the answer. Was the fund manager of today when he went to Asia, was he an employee of the Government of the Northwest Territories in the capacity of an ADM or an ADM with the Department of Economic Development and Tourism or was he in actuality the fund manager? So if that is the case, when was he appointed the fund manager?

Two questions, Mr. Morin.

Thank you, Mr. Speaker. He was not an employee of the Government of the Northwest Territories. Thank you.

Oral questions. Mr. Henry.

Thank you, Mr. Speaker. My question is also on the Aurora Fund and I direct it to the Premier also. I understand that the loans for the Aurora Fund are for terms up to five years. In that period of time as it started last year, there will be probably all of these loans or certainly some of these loans that will be dedicated to businesses after division takes place. Does the Premier have any indication as to how those loans will be attributed as regards assets and liabilities after the division takes place? Thank you, Mr. Speaker.

Mr. Premier.

Thank you, Mr. Speaker. I will have the Minister responsible for the Aurora finance answer that question.

The Minister of Finance, Mr. Todd.

Thank you, Mr. Speaker. I thought it was appropriate because I know the fund a little more intimately than the Premier does. Now I want to stress again, this is not a government fund. This is an independent fund made up of immigrant investment dollars. This government in the initial stages acted as the catalyst to get the fund moving forward. The division of the territories has absolutely no relevance to this fund. Thank you.

Oral questions. Supplementary, Mr. Henry.

Thank you, Mr. Speaker. Did the government of the Northwest Territories not initiate some seed money for this particular program? Thank you, Mr. Speaker.

Mr. Todd.

Thank you, Mr. Speaker. They did in fact. I think we initiated $380,000 worth of seed money which was repayable from the fund once it got up and running. I do not know the details on which we drew down, as they say in the business world, and I do not know the status of it being paid back, but I will get it for the Member.

But again, I say to you, remember, we were the catalysts to bring this fund forward. It runs independent, with independent southern investment committee people, specifically set up to avoid both the perception of influence and the reality of influence. It was set up in a safe way to bring forward another form of capital that could be accessed by northern businesses.

As I said earlier, it has its limitations because it was looking at the larger end loans out there, et cetera. In summary, the seed money was repayable. I will find out if it was repaid. Secondly, it is not a government fund, therefore it has no relevance to division and thirdly, it is going very well and we should all be appreciative of it. Thank you.

Oral questions. Supplementary, Mr. Henry.

Thank you, Mr. Speaker. My question to the Minister is, does the Government of the Northwest Territories have any liability in the event that loans fail or the businesses that they support fail? Does the Government of the Northwest Territories have any liability for funds? Thank you, Mr. Speaker.