Thank you, Mr. Chairman. Mr. Chairman, yes, I have opening comments. Mr. Chairman, this bill will amend the Real Estate Agents' Licensing Act to remove the requirement that real estate agents be residents of the Northwest Territories to be licensed. This change complies with the labour mobility provisions of the Agreement on Internal Trade, which the Government of the Northwest Territories signed in 1994. This change also ensures that the Government of the Northwest Territories is not open to a possible court challenge under the Canadian Charter of Rights and Freedoms. Similar changes have already been made, or will be made shortly, in all other Canadian provinces and territories.
The department does not anticipate an increase in the number of southern agencies doing business in the Northwest Territories as a result of this change. The act will still retain specific requirements that agencies maintain a local business office, have Northwest Territories trust accounts and meet Northwest Territories bonding and educational requirements. This information was made available to Northwest Territories agents during initial consultation and again during July of this year when the department received several inquiries about the proposed bill.
Northern real estate representatives acknowledge that all southern jurisdictions are adopting similar changes and as such, they have indicated no further issues with this proposal. I look forward to answering the committee's questions on this bill. Thank you, Mr. Chairman.