Mahsi, Mr. Chairman. To my left I have Mark Aitken, director of legislation, and Gary McDougall, director of legal registries. Mahsi, Mr. Chairman.

Thank you, Mr. Minister. I will now open the floor to general comments on Bill 5. Does the committee agree that we will move to detail, clause by clause?

Thank you, committee. Bill 5, Professional Corporations Act, we will start with Clause 1.

---Clauses 1 through 18 inclusive approved

Thank you, committee. To the bill as a whole.

Does the committee agree that Bill 5, Professional Corporations Act, is now ready for third reading?

Thank you, committee. Bill 5 is now deemed ready for third reading.

---Bill 5 as a whole approved for third reading

Thank you, Minister and your witnesses. Sergeant-at-Arms, please escort the witnesses from the Chamber. Thank you.

Committee, we have agreed to consider Bill 9, Northern Employee Benefits Services Pension Plan Protection Act. I will ask Minister Miltenberger, responsible for Bill 9, to introduce the bill.

Thank you, Mr. Chairman. I am pleased to present Bill 9, Northern Employee Benefits Services Pension Plan Protection Act.

The purpose of Northern Employee Benefits Services, or NEBS, is to administer the pension and group benefits of participating employers residing in the Northwest Territories and Nunavut.

This bill provides protection from creditors for the pension entitlements of Northwest Territories members of the NEBS Pension Plan and restricts the ability of members to pledge as security their pension entitlements under the plan.

Mr. Chairman, that concludes my opening remarks. Thank you.

Thank you, Minister Miltenberger. Would the Minister like to bring witnesses into the House?

Yes, Mr. Chairman.

Thank you, Minister. Does the committee agree?

Sergeant-at-Arms, will you please escort the witnesses into the House.

Minister Miltenberger, could introduce your witnesses?

Thank you, Mr. Chairman. I have with me Margaret Melhorn, deputy minister of Finance, Mr. Rob Taggart, director of policy and planning, and Mr. Ian Rennie, legislative council. Thank you, Mr. Chairman.

Thank you, Minister. I will now open the floor to general comments on Bill 9. Mr. Ramsay.

Thank you, Mr. Chairman. I am just wondering about current plan holders under the NEBS Pension Plan that have pledged security. Are creditors going to be able to go after it once this legislation is passed? Are creditors going to be able to go after pension plan holders that have already pledged their plans as security? Thank you.

Mr. Chairman, I will let Mr. Taggart respond to that.

Thank you, Mr. Minister. Mr. Taggart.

Thank you, Mr. Taggart. Thank you, Mr. Ramsay. Are there any further general comments? Does committee agree we move to detail?

Committee, Bill 9, Northern Employee Benefits Services Pension Plan Protection Act, clause 1.

---Clauses 1 through 6 inclusive approved

To the bill as a whole.