Thank you, Mr. Chairman. I am pleased to present Bill 7, Powers of Attorney Act, for your consideration.

A power of attorney allows a person to appoint someone else to handle his or her financial affairs. At the present time, if a person becomes mentally incapable, any power of attorney that they may have signed becomes void. Their family must make an application to the court under the Guardianship and Trusteeship Act to become trustee. This is a complex and costly process.

This bill will allow powers of attorney to include a provision that the power of attorney can either continue in force if the person who signed it becomes incapable, in which case it is called an enduring power of attorney, or spring into force at the time the person who signed it becomes incapable, in which case it is called a springing power of attorney.

Some of the features of this bill are:

• • It provides for the "grandfathering" of powers of attorney, which were signed before the coming into force of this legislation;
• • It allows a person to designate one or more persons who can decide if they have become mentally incapable;
• • It allows a person to designate someone to review the transactions handled by the attorney;
• • It states the basic requirements for a valid power of attorney;
• • It states the criteria for determining if a person is mentally capable of making a power of attorney; and
• • It provides that a copy of the power of attorney may be filed in the office of the public trustee.

In drafting this bill, we have had the opportunity to review the legislation that has been enacted in Canada over the last few years and to adopt the best features of that legislation in a manner which we believe will benefit Northerners. This bill is strongly supported by the Northwest Territories Seniors' Society, which has been consulted and had input into the bill.

Mr. Chairman, thank you for the opportunity to describe this bill. I will be pleased to answer any questions from committee members.