Thank you, Mr. Speaker. Mr. Speaker, I move, seconded by the honourable Member for Deh Cho, that Bill 7, An Act to Amend the Legal Profession Act, be read for the second time.
Mr. Speaker, this bill amends the Legal Profession Act to provide that members may pay over to the Law Society of the Northwest Territories trust money that they have been unable to disburse for at least two years because the persons entitled to the funds cannot be located. The Law Society would hold the transferred money for five years, and during that period a person who would be entitled to claim the funds from the member may claim them from the Law Society. At the expiry of the five-year period, the transferred funds held by the Law Society, less administration fees, are paid to the Northwest Territories Law Foundation and may be used to further the objects of the foundation. The Law Society is empowered to make rules to facilitate the program.
In addition, the Legal Profession Act is amended:
- • to provide that the discipline committee shall be composed of a majority of resident members;
- • to provide that certain notices of the Law Society that must presently be mailed may be sent by other means;
- • to delete references to "treasury branches;"
- • to replace references specific to the Yukon territory with a term that also includes Nunavut.
Thank you, Mr. Speaker.