Mr. Speaker, I move, seconded by the honourable Member for Deh Cho, that Bill 16, Northwest Territories Business Development and Investment Corporation Act, be read for the second time.

Mr. Speaker, this bill establishes the Northwest Territories Business Development and Investment Corporation. The purpose of the corporation is to support the economic objectives of the Government of the Northwest Territories

by encouraging the creation and development of business enterprises and by providing information and financial assistance to, and making investments in, such enterprises. This bill also repeals the Northwest Territories Business Credit Corporation Act and the Northwest Territories Development Corporation Act. Thank you, Mr. Speaker.