I am pleased to appear before the committee today as you consider Bill 64, An Act to Amend the Co-operative Associations Act.
The main focus of the proposed amendments to the Co-operative Associations Act is to address existing gaps and to clarify and revise outdated provisions. This will include amendments to eliminate overlapping responsibilities of the supervisor within the Department of Industry, Tourism and Investment and the registrar with legal registries, as well as amendments to enact requirements that correspond more closely with the rules governing other businesses operating in the NWT. The bill also includes a number of non-substantive amendments to ensure consistency with current drafting standards.
The Department of Justice and the Department of Industry, Tourism and Investment consulted on the proposed amendments with Arctic Co-operatives Ltd. on several occasions, as it operates as an umbrella organization encompassing many of the retail co-operatives operating in the Northwest Territories. The departments also provided a consultation draft of the bill with an explanation of the proposed amendments to all 19 existing co-operatives.
I would like to thank the Standing Committee on Social Programs for its review of Bill 64, including very constructive feedback and identification of a number of motions that improve the bill, which will be advanced this afternoon. I look forward to responding to any questions Members may have. Thank you.