Thank you, Madam Chair. Maybe I should also say hi to Emily and Myra. They should keep watching and run for office some day.
Madam Chair, the committee held public hearings on Bill 1, An Act to Amend the Partnership Act, in Yellowknife on April 19th and 20th; on May 8th in Tuktoyaktuk; in Inuvik on April 23rd; in Ulukhaktok on April 24th; in Colville Lake on April 25th; and in Behchoko on April 26, 2007.
The committee would like to thank the Minister and the one witness who spoke to this bill on April 19, 2007. The committee heard from Glen Tait, a lawyer in private practice in Yellowknife. Mr. Tait pointed out that the proposed amendments would bring the NWT into line with the rest of Canada and would provide assurances to young professionals considering coming north. It was also pointed out by Mr. Tait that there is still a need to amend the Partnership Act to allow for the creation of professional corporations within partnerships. Professional corporations allow for the protection of basic assets from seizure in the event of a successful lawsuit against an individual in a partnership. This is also in line with the current practices in the rest of Canada.
The committee understands that the issue of professional corporations is complex and cannot be addressed in this bill. We appreciated the Minister's commitment to work towards introducing the required amendments early in the life of the next Assembly.
Following the clause-by-clause review, a motion was carried to report Bill 1 to the Assembly as ready for Committee of the Whole.
Madam Chair, this concludes the committee's general comments on Bill 1. Individual committee members may have questions and comments as we proceed. Thank you.