Thank you, Mr. Speaker. Mr. Speaker, I move, seconded by the honourable Member for Weledeh, that Bill 4, Northwest Territories Hydro Corporation Act, be read for the second time.
Mr. Speaker, this bill establishes the Northwest Territories Hydro Corporation and provides that the corporation owns the common shares of the Northwest Territories Power Corporation, and has the same board of directors, chairperson, vice-chairperson and president as the Northwest Territories Power Corporation. The objects of the Northwest Territories Hydro Corporation relate generally to the generation, supply and sale of electricity in the Northwest Territories, with one object pertaining specifically to the Twin Gorges hydroelectric generating facility on the Taltson River.
Consequential amendments will be made to the Financial Administration Act, Northwest Territories Power Corporation Act, Public Service Act Public Utilities Act. Thank you, Mr. Speaker.