Thank you, Mr. Speaker. Mr. Speaker, your committee would like to report on its consideration of Bill 7, an Act to Amend the Revolving Funds Act. Bill 7, sponsored by the Minister of Transportation, sets out the legislative framework for a revolving fund to be established at the Yellowknife Airport. Revenues generated at the airport could best be used to fund its operations, maintenance and capital costs. Bill 7 received second reading in the Legislative Assembly on June 27, 2016 and was referred to the Standing Committee on Economic Development and Environment for review.

Today, I am advising this House of committee's wish to extend our review of Bill 7 and intention to report back to the House at the earliest possible opportunity during February 2017.

Mr. Speaker, we find ourselves in a situation where information crucial to understanding the changes enabled by the legislation was not available with sufficient time for the committee to complete its review with the original 120-day review period. This process typically includes internal committee review, stakeholder engagement, public hearings, and carefully considered responses before reporting to the House with recommendations on the bill.

Given the level of public interest and the nature of changes proposed for the airport, it is necessary to understand the operation and administration of the revolving fund and for the committee to conduct due diligence in its review of Bill 7. We believe that stakeholders and the travelling public deserve the opportunity to be heard as changes to the administration of the airport go forward.

Therefore, Mr. Speaker, in accordance with Rule 75(1)(c) of the Rules of the Legislative Assembly of the Northwest Territories, I move, and seconded by the honourable Member for Sahtu, that the review period for Bill 7, An Act to Amend the Revolving Funds Act, be extended for a further 120 days. Thank you, Mr. Speaker.