Agreed.

Bill 26?

Thank you, Madam Chairperson. The main purpose of this bill and its companion, Bill 23, is to place corporations and limited partnerships that are more closely related to Nunavut than the successor Northwest Territories under the relevant legislation of Nunavut.

This is achieved by deeming business corporations, societies, co-operatives and limited partnerships be no longer incorporated, registered or formed under the NWT legislation on April 1, 1999, when their registered office, locality of operations, general partners or address of service, as the case may be, is in Nunavut. The Nunavut Legislation, as amended by Bill 23, will deem these corporations and limited partnerships to be incorporated, registered or formed under the corresponding Nunavut statutes.

The NWT legislation also provides that these deemed Nunavut entities may continue to operate in the NWT without registration as an extra-territorial corporation or limited partnership until March 31, 2001, during which time their existing rights and liabilities are preserved.

Similarly, the Nunavut legislation provides that the corporations and limited partnerships which remain in the NWT may continue to operate in Nunavut without registration until March 31, 2001. Again, their existing rights and liabilities are preserved during this period of time.

Finally, this bill also includes several more minor amendments to legal registries legislation in order to deal with the consequences of division. In closing, I would like to thank the Members of the standing committee for the review and support of this bill. I would be pleased to respond to any questions or comments which Members may have. Thank you, Madam Chairperson.

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.

Yes, thank you, Madam Chairperson.

Thank you, Madam Chairperson. I have with me Gary MacDougall, Director of Legal Registries in the Department of Justice and Mr. Mark Aitken once again, Director of Legislation Division with the Department of Justice.

Clause by clause.

Agreed.

Agreed.

Agreed.

Agreed.

Agreed.