Thank you, Mr. Nitah. To the principle of the bill. The honourable Member for the Mackenzie Delta, Mr. Krutko.

Mr. Speaker, I too have similar concerns on the bill. I believe that people have the right to mobility. They have the right to move within certain avenues, especially to carry out traditional functions, where people may come to the community with a boat, where they have to unload with families and all their supplies and they have no other options in our communities.

This bill is great for where you have major highway systems and what not, but I believe that you have to put some realistic terms to when we establish these bills.

The hardship that this causes small communities and people in small communities, such as Aklavik, where a lot of people depend on the transportation of the boats and what not. They travel to the communities. They go out to their whaling camps. They go out to their fish camps and I think that we have to be realistic here.

Sure, it is a great idea. People should not ride in the box in a vehicle on the highway. However, I think the Minister had his opportunity to do the right thing. He submitted saying that he was going to do it and now he is coming back rescinding that commitment.

I for one will make this clear that I will fight this all the way until he lives up to his commitment.

Thank you, Mr. Krutko. To the principle of the bill. The House is prepared for the question. All those in favour, please signify. All those opposed? The motion is carried. Bill 8 has had second reading. Accordingly, the bill stands referred to a committee. Item 18, second reading of bills. The honourable Member for Nunakput, Mr. Steen.

Thank you, Mr. Speaker. Mr. Speaker,

I MOVE, seconded by the honourable Member for Inuvik Twin Lakes, that Bill 9, Commercial Vehicle Trip Permit Act, be read for the second time.

Mr. Speaker, this bill requires carriers to obtain a trip permit before a commercial vehicle makes a trip across the boundaries of one or more prescribed zones on primary highways in the Northwest Territories.

Certain commercial vehicles, such as vehicles that are not carrying cargo or vehicles on a trip within one zone, are exempt from trip permit requirement. Trip permits will be issued by the Minister, on application, and will specify information sufficient to identify the commercial vehicle and its route.

Transport officers will have enforcement powers, including the power to detain commercial vehicles if there is a failure to properly obtain a trip permit. The Minister is authorized to enter into agreements with a contractor for the issue of trip permits to carriers generally or with a particular carrier for the issue of trip permits for the commercial vehicles of that carrier.

This bill provides for offences and for the enactment of regulations. Thank you, Mr. Speaker.

Thank you, Mr. Steen. We have a motion on the floor. The motion is in order. To the principle of the bill. The honourable Member for Inuvik Boot Lake, Mr. Roland.

Thank you, Mr. Speaker. Mr. Speaker, we have heard much of what it is now called the Commercial Vehicle Trip Permit Act.

Mr. Speaker, much information needs to be sent out to the public as this will come forward. There is concern that the impact this will have, when you look at the increases in the airline industry, you look at the increases this will have on people in the Northwest Territories. We have to look at what this will actually do.

Some of my constituents have heard rumours of a, at the time, commercial vehicle toll fee that was being proposed. There was some discussion in the media. They are concerned about what impact it will really have on residents with the high cost of living already in the North.

I think as we go through this process and we go to public hearings, if it makes it past this stage, there needs to be a lot more information put out by the government. When committee does travel, that this information is already in the hands of residents because it is a very big act. It is a big change in the Northwest Territories and it will have long-term impacts. There has been a lot of talk about the long-term benefits of this, but there will also be impacts. As you know, the cost of living in the Northwest Territories is rising as we speak.

I am hoping the department and the government will come forward with a lot of information on this, as to what the real impacts will be, Mr. Speaker, not just assumptions. We have heard of the assumptions and, usually when it comes back, people have had more of an impact.

I am going to be watching as to what is coming forward and, as well, what this government plans to do to help residents deal with the cost of living increases as a result of this. Thank you, Mr. Speaker.

Thank you, Mr. Roland. To the principle of the bill. Question has been called. Is the House ready for the question? Would the honourable Members please assist the Chair in making very clear your intentions? The Chair will not guess as to how you wish to vote. All those in favour, please signify. Thank you. All those opposed, please signify. Thank you. The motion is carried. Bill 9 has had second reading. Accordingly, the bill stands referred to a committee. Item 18, second reading of bills. The honourable Member for Weledeh, Mr. Handley.

Mr. Speaker,

I MOVE, seconded by the honourable Member for Inuvik Twin Lakes that Bill 10, Public Highway Improvement Fund Act, be read for the second time.

Mr. Speaker, this bill establishes the Public Highway Improvement Fund. Trip permit fees and administrative penalties collected under the authority of the Commercial Vehicle Trip Permit Act must be paid into the fund and, subject to an appropriation, amounts can be paid out of the fund to pay costs associated with the improvement of primary highways, the principal and interest on loans taken to finance the improvement of primary highways and costs of administering the Commercial Vehicle Trip Permit Act. Thank you, Mr. Speaker.

Thank you, Mr. Handley. The motion is in order. To the principle of the bill. Is the House ready for question? All those in favour, please signify. All those opposed? Thank you. The motion is carried. Bill 10 has had second reading. Accordingly, the bill stands referred to a committee. Item 18, second reading of bills. The honourable Member for Nunakput, Mr. Steen.

Thank you, Mr. Speaker. Mr. Speaker, I seek consent to proceed with second reading of Bill 11, Architects Act. Thank you.

Thank you, Mr. Steen. The honourable Member is seeking consent to proceed with his bill. Are there any nays?

The Chair heard two nays. Consent has not been given. Item 18, second reading of bills. Item 19, consideration in committee of the whole of bills and other matters: Minister's Statement 1-14(4), Minister's Statement 3-14(4), Minister's Statement 4-14(4), Bill 1, Bill 4, and Committee Report 4-14(4), with Mr. Krutko in the chair.

Mr. Chairman, I would like to recommend that we deal with Bill 1 first, followed by Committee Report 4-14(4), followed by Bill 4.

Does the committee agree?

We will deal with Bill 1, An Act to Amend the Northwest Territories Business Credit Corporation Act. I would like to ask the Minister responsible for the bill if he has any opening comments. Mr. Handley.

Thank you, Mr. Chairman. Mr. Chairman, economic activity in the oil and gas sector, as well as the diamond industry, is increasing dramatically, which is resulting in many new business opportunities for northern companies. By increasing the limits for loans, bond-guaranteed loans, or indemnified loans that can be made by the Business Credit Corporation, we can assist the private sector to assess these financial opportunities.

The objective of the BCC is to stimulate economic development and employment in the Northwest Territories. The BCC provides financing to businesses in the Northwest Territories where conventional lending institutions are not prepared to participate. This assists companies to become full participants in our industries, including our oil and gas and secondary diamond sectors. As of March 31, 2001, the BCC had total outstanding credit facilities of $27.5 million. This is well within the $50 million working capital advance from the consolidated revenue fund. This fund is a revolving fund, so money repaid by businesses with existing loans can be used to fund future projects.

BCC financing is demand-based. The BCC will consider business proposals for any viable business opportunity that will stimulate economic development and employment in the Northwest Territories. Strict commercial lending practices are followed by the BCC. Its lending guidelines and practices are subject to annual audits conduced by the Auditor General of Canada.

The proposal before you is to amend the BCC Act by increasing the total limit from $1 million to $2 million per business or for related businesses. The act currently provides for an upper loan limit of $1 million. This limit has been in place for roughly ten years. Accordingly, it is time to change.

This proposal supports the objectives of the document Towards a Better Tomorrow for a northern controlled economy that is balanced, diversified, stable and vibrant. The change to the act will provide an option for companies who want to finance capital intensive operations associated with resource development as well as other business ventures. The proposed change will apply only to new loan applications. It will be a benefit to NWT businesses who have different corporate entities.

For example, most aboriginal development corporations have several operating businesses. Under the BCC Act, the $1 million cap applies to all related businesses. The amendment will increase the borrowing room for these development corporations.

I believe this amendment will be welcome by the private sector and am pleased to have the opportunity to review the amendment with the Members of the Legislative Assembly. Thank you.

Thank you, Mr. Handley. Does the standing committee responsible for reviewing this bill have any comments? Mr. Roland.

Thank you, Mr. Chairman. The Standing Committee on Governance and Economic Development conducted a public review of Bill 1, An Act to Amend the Northwest Territories Business Credit Corporation Act, on June 11, 2001. The committee would like to thank the Minister of Resources, Wildlife and Economic Development and his officials for presenting the bill.

The bill would amend subsection 37(3) of the Northwest Territories Business Credit Corporation Act and increase the limit for loans, bond guaranteed loans or indemnified bonds from $1 million to $2 million.

During discussions on the bill, the committee expressed two major concerns. The Business Credit Corporation's requirement to increase the limit prior to the Standing Committee on Governance and Economic Development's consideration of the government's Business Program Review Committee's upcoming report and the ongoing necessity for balanced risk management and diversification.

Committee members recalled during their review of the government's 2001-02 business plans and main estimates, the government established a Business Program Review Committee to consider the amalgamation of the Northwest Territories Business Credit Corporation, the Northwest Territories Development Corporation and its Business Development Fund.

A report from the review committee was originally due on March 31, 2001, but this has been moved to June, 2001. The standing committee has not yet received a copy of the report. The committee members were of the position that consideration of the report may aid in its consideration of the BCC's request to increase its lending limit.

The government answered that the standard review process involving Cabinet and the standing committee may be lengthy. However, they provided assurances that the BCC needs the legislation as soon as possible to meet capital requirements from recent developments in the diamond and oil and gas sectors.

The Minister added that the government has consulted and received support from the review committee regarding this proposed lending limit increase.

Committee members noted that as of March 31, 2001, total outstanding borrowing for the Business Credit Corporation, stood at $27,500,000, with $22,500,000 remaining to lend out in accordance with its act.

The standing committee was concerned that an increase of the lending limit may increase overall risk by concentrating limited funding with a few business enterprises or a group of related enterprises.

Committee members confirmed with the Minister that a single business, or related entities of a single business, may not access more than the lending limit, and the proposed lending limit would continue to ensure that the loan portfolio remains diversified.

Mr. Chairman, following the committee's review, a motion was carried to report Bill 1, An Act to Amend the Northwest Territories Business Credit Corporation Act, to the Assembly as ready for committee of the whole. Additional questions or comments of Members may be posed as we proceed. Thank you, Mr. Chairman.

Thank you, Mr. Roland. At this time I will ask the Minister, will you be bringing in any witnesses?

Yes, I will.