Yes, Mr. Speaker, I will try to give some clarity to that issue. The actual operations, if you want, of the fund and the decision making in terms of evaluating proposals and bringing recommendations up, is done outside of government. Mr. Bailey, for example, is the NWT investment manager and three external, if you want, investment committee members. These are done independent of the government, if you want. We have an obligation and a responsibility, given the regulations that are set by the federal government to be seen and to be viewed as a government fund. It has the backing, both the moral and the administration backing, of the government, but it has the independence of where it puts an investment outside of the government through Mr. Bailey and through the independent bankers and, of course, the bankers themselves who finance it, and that is the Pacific Western one. I hope that brings clarity.
John Todd on Question 110-13(5): Administration Of Immigrant Investor Funds
In the Legislative Assembly on January 27th, 1998. See this statement in context.
Return To Question 110-13(5): Administration Of Immigrant Investor Funds
Question 110-13(5): Administration Of Immigrant Investor Funds
Item 6: Oral Questions
January 26th, 1998
Page 342
John Todd Keewatin Central
See context to find out what was said next.