Mr. Chairman, I do not have a copy of the Act in front of me but the section Mr. Bell is referring to deals with business ventures and it is true. They should not and cannot invest in business ventures that are not going to show a positive return within a matter of a few years. However, there is another section of the Act that you have to look at dealing with subsidiaries. Ventures and subsidiaries are two different creations and it is possible and it is a purpose of the Northwest Territories Development Corporation to own and manage these subsidiaries for the purpose of creating employment in situations where the private sector would not go and where losses are going to be limited. So there are two different functions, subsidiaries and business ventures. You have to look at both sections of the Act. Thank you, Mr. Chairman.
Joe Handley on Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters
In the Legislative Assembly on November 7th, 2000. 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
November 6th, 2000
Page 775
See context to find out what was said next.