Thank you, Madam Chairperson. The Standing Committee on Government Operations reviewed Bill 22, the Legal Registries Division Measures Act, at its meeting on December 7 and 8, 1998. The committee would like to thank the Honourable John Todd and his officials for presenting the bill and responding to issues raised by the committee. Madam Chairperson, this bill makes technical amendments to the Business Corporations Act, Co-operative Associations Act, the Partnership Act and the Societies Act that will assist those bodies in making the transition to the two new territories. The amendments provide that corporations, co-ops, partnerships and societies primarily located in Nunavut as of March 31, 1999, will be deemed as of April 1, 1999, not to be formed under NWT
legislation.
Under corresponding amendments made to the Nunavut versions of these acts by Bill 23, these bodies will be deemed to have been formed under Nunavut legislation. Bodies deemed to have been formed in Nunavut will be able to carry on business in the NWT without having to register as an extra-territorial body until March 31, 2001. Other transitional provisions will allow NWT bodies to use offices and addresses in Nunavut until March 31, 2001.
Madam Chairperson, this bill also amends the Land Titles Act to repeal spent transitional provisions and adds a transitional section to the Securities Act allowing addresses for service in Nunavut to be used.
Madam Chairperson, Members of the standing committee had no concerns with this bill. This concludes the standing committee's comments on Bill 23, the Legal Registries Statutes Nunavut Amendment Act. Thank you, Madam Chairperson.