This is page numbers 1299 - 1354 of the Hansard for the 14th Assembly, 6th Session. The original version can be accessed on the Legislative Assembly's website or by contacting the Legislative Assembly Library. The word of the day was chairman.

Topics

Committee Motion 136-14(6) To Consult And Bring Forward Amendments To The Settlements Act , Carried
Revert To Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters

Page 1345

The Chair

The Chair Paul Delorey

Thank you, Ms. DeLancey. Mrs. Groenewegen.

Committee Motion 136-14(6) To Consult And Bring Forward Amendments To The Settlements Act , Carried
Revert To Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters

Page 1345

Jane Groenewegen

Jane Groenewegen Hay River South

Thank you, Mr. Chairman. Actually, it says that the council may, with the approval of the Minister or if authorized by the municipal corporation of investment plan, establish a corporation or hold shares in a corporation for a municipal purpose. It says "or", so my question is still the same. Is the municipal corporation investment plan required to be approved by the Minister?

Committee Motion 136-14(6) To Consult And Bring Forward Amendments To The Settlements Act , Carried
Revert To Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters

Page 1345

The Chair

The Chair Paul Delorey

Thank you, Mrs. Groenewegen. Mr. Steen.

Committee Motion 136-14(6) To Consult And Bring Forward Amendments To The Settlements Act , Carried
Revert To Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters

Page 1345

Vince Steen

Vince Steen Nunakput

Mr. Chairman, I will ask Mr. Aitken to respond to that as that's a legal question.

Committee Motion 136-14(6) To Consult And Bring Forward Amendments To The Settlements Act , Carried
Revert To Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters

Page 1345

The Chair

The Chair Paul Delorey

Thank you, Mr. Steen. Mr. Aitken.

Committee Motion 136-14(6) To Consult And Bring Forward Amendments To The Settlements Act , Carried
Revert To Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters

Page 1345

Aitken

Thank you, Mr. Chairman. The definition "investment plan" on page 107 refers to a plan adopted under section 128 to manage municipal corporations' investments. Subsection 128(2) says, "A bylaw adopting an investment plan is not valid unless it is approved by the Minister." So I believe that would be the answer to Mrs. Groenewegen's question. Thank you, Mr. Chairman.

Committee Motion 136-14(6) To Consult And Bring Forward Amendments To The Settlements Act , Carried
Revert To Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters

Page 1345

The Chair

The Chair Paul Delorey

Thank you, Mr. Aitken. Mrs. Groenewegen.

Committee Motion 136-14(6) To Consult And Bring Forward Amendments To The Settlements Act , Carried
Revert To Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters

Page 1345

Jane Groenewegen

Jane Groenewegen Hay River South

Thank you, Mr. Chairman. So is the municipal corporation's investment plan, it's required to be approved by the Minister, but is it required to be approved by the voters in that community? Thank you.

Committee Motion 136-14(6) To Consult And Bring Forward Amendments To The Settlements Act , Carried
Revert To Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters

Page 1345

The Chair

The Chair Paul Delorey

Thank you, Mrs. Groenewegen. Mr. Aitken.

Committee Motion 136-14(6) To Consult And Bring Forward Amendments To The Settlements Act , Carried
Revert To Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters

Page 1345

Aitken

Thank you, Mr. Chairman. Subsection 128(5) says that a copy of the municipal corporation's investment plan must be made available to the public. It does not appear that it has to be approved by the public, but it does have to be available to the public. Thank you, Mr. Chairman.

Committee Motion 136-14(6) To Consult And Bring Forward Amendments To The Settlements Act , Carried
Revert To Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters

Page 1345

The Chair

The Chair Paul Delorey

Thank you, Mr. Aitken. Mrs. Groenewegen.

Committee Motion 136-14(6) To Consult And Bring Forward Amendments To The Settlements Act , Carried
Revert To Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters

Page 1345

Jane Groenewegen

Jane Groenewegen Hay River South

So are there certain types of investments that a community would be authorized to invest the municipality's money in and, if so, could the Minister please give me an example of what kinds of investments would be approved? Thank you.

Committee Motion 136-14(6) To Consult And Bring Forward Amendments To The Settlements Act , Carried
Revert To Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters

Page 1345

The Chair

The Chair Paul Delorey

Thank you, Mrs. Groenewegen. Mr. Steen, you're referring the question to Ms. DeLancey. Ms. DeLancey.

Committee Motion 136-14(6) To Consult And Bring Forward Amendments To The Settlements Act , Carried
Revert To Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters

Page 1345

Delancey

Thank you, Mr. Chairman. There is a little bit of detail in the bill, section 67(2) talks about a corporation being established where its shares are being held solely by the municipal corporation or jointly with one or more parties. The intent here is to allow municipalities to establish required shares in a corporation. So that's one of the kinds of investments that the law provides for. The bill itself does not go into a great deal more detail than that and that's an issue that in the implementation process we would expect to provide some more detail in the regulations.

Committee Motion 136-14(6) To Consult And Bring Forward Amendments To The Settlements Act , Carried
Revert To Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters

Page 1345

The Chair

The Chair Paul Delorey

Thank you, Ms. DeLancey. Mrs. Groenewegen.

Committee Motion 136-14(6) To Consult And Bring Forward Amendments To The Settlements Act , Carried
Revert To Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters

Page 1345

Jane Groenewegen

Jane Groenewegen Hay River South

Thank you, Mr. Chairman. Mr. Chairman, at this time we're being asked to pass this legislation, but we don't know what kinds of investments a municipal corporation could put the community's money into. Is that correct? Thank you.

Committee Motion 136-14(6) To Consult And Bring Forward Amendments To The Settlements Act , Carried
Revert To Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters

Page 1345

The Chair

The Chair Paul Delorey

Thank you, Mrs. Groenewegen. Ms. DeLancey.

Committee Motion 136-14(6) To Consult And Bring Forward Amendments To The Settlements Act , Carried
Revert To Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters

Page 1345

Delancey

Thank you, Mr. Chairman. Yes, that's correct. The regulations will be developed as part of the implementation plan to the legislation, which will be rolled out once the bill is given third reading, again in consultation and working closely with the Association of Communities. Thank you, Mr. Chairman.

Committee Motion 136-14(6) To Consult And Bring Forward Amendments To The Settlements Act , Carried
Revert To Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters

Page 1345

The Chair

The Chair Paul Delorey

Thank you, Ms. DeLancey. Mrs. Groenewegen.

Committee Motion 136-14(6) To Consult And Bring Forward Amendments To The Settlements Act , Carried
Revert To Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters

Page 1345

Jane Groenewegen

Jane Groenewegen Hay River South

Thank you, Mr. Chairman. Maybe the Minister or his staff could be some kind of idea what they would envision that a municipal corporation would be allowed to invest money in. Thank you.

Committee Motion 136-14(6) To Consult And Bring Forward Amendments To The Settlements Act , Carried
Revert To Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters

Page 1345

The Chair

The Chair Paul Delorey

Thank you, Mrs. Groenewegen. Ms. DeLancey.

Committee Motion 136-14(6) To Consult And Bring Forward Amendments To The Settlements Act , Carried
Revert To Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters

Page 1345

Delancey

Thank you, Mr. Chairman. Some examples of the types of investments that might commonly be entered into by municipalities would include investment pools, some provinces actually have municipal investment pools; public utilities or franchises like electrical franchises. Those are the kinds of things that are envisioned.

Committee Motion 136-14(6) To Consult And Bring Forward Amendments To The Settlements Act , Carried
Revert To Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters

Page 1345

The Chair

The Chair Paul Delorey

Thank you, Ms. DeLancey. Mrs. Groenewegen.

Committee Motion 136-14(6) To Consult And Bring Forward Amendments To The Settlements Act , Carried
Revert To Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters

Page 1345

Jane Groenewegen

Jane Groenewegen Hay River South

Thank you, Mr. Chairman. Somewhere else in the act, does it set a dollar value? If a municipality decided to invest money in a certain venture, is there any cap on the amount of money that they could invest in that venture or in investment portfolio without seeking the approval of the voters or the ratepayers? Thank you.

Committee Motion 136-14(6) To Consult And Bring Forward Amendments To The Settlements Act , Carried
Revert To Item 19: Consideration In Committee Of The Whole Of Bills And Other Matters

Page 1345

The Chair

The Chair Paul Delorey

Thank you, Mrs. Groenewegen. Ms. DeLancey.