Thank you, Mr. Speaker, and thank you, colleagues. Mr. Speaker, I move, seconded by the honourable Member for Nahendeh that Bill 5, An Act to Amend the Financial Administration Act, No. 2, be read for the second time. Mr. Speaker, this bill amends the Financial Administration Act to permit the Minister of Finance to make an indemnity on the recommendation of the Financial Management Board and on behalf of the government. This bill also allows, without a separate enactment, the Minister of Finance and other Ministers to make an indemnity that exceeds $500,000 or that is not quantified when made, but only in respect to the following:
a) a non-public servant who serves as a member of a board, agency, committee or council at the request of the government;
b) a board, agency, committee or council that performs functions on behalf of the government; and
c) a municipal corporation, settlement corporation or other community government body in respect of environmental liabilities associated with a transfer of assets or infrastructure by the government to the municipal corporation, settlement corporation or other community government body.
The bill also requires the Financial Management Board to review every request for an indemnity in respect of the categories described above to determine if insurance is available and if insurance should be purchased instead of making the indemnity. It also provides that where such an indemnity is proposed, the Minister of Finance will provide notice to Members of the Legislative Assembly before the indemnity is approved by the Financial Management Board.
Finally, this bill amends the definition of indemnity and specifies that both indemnities and guarantees on behalf of the government or a public agency must be in writing.
Thank you, Mr. Speaker.