Thank you, Madam Chair. When the issue of northern ownership came up and it is the definition now that you need to be 51 percent owned to be considered a northern business, but there was also recognition that there are other companies which do not need that provision, which have made substantive commitments to the business community. That is they have invested a considerable amount of money and goodwill in setting up the businesses in the north and that led to the creation of the list that was grandfathered. The list was to recognize the commitment and the contribution that businesses have made, even though they are not necessarily majority owned or even owned at all by northern people or northern businesses.
Stephen Kakfwi on Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters
In the Legislative Assembly on February 11th, 1997. See this statement in context.
Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters
Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters
February 10th, 1997
Page 548
See context to find out what was said next.