Mr. Speaker, when I initially took over this portfolio, I was almost immediately advised of this issue, initially by Members opposite, but also by members of the legal profession and individuals as I travelled around the community. I had thought that this was not a particularly large issue, thinking that there might not be very many of these equity leases; however, after some investigation, we found that there were, in fact, a great number. So we have heard the concerns from Members opposite and members of the legal profession, and I have directed the Department of Lands to take a comprehensive review of all equity leases and report back to me by the end of August with the findings. As I mentioned initially, I had thought that there were perhaps very few. It turns out that there are hundreds.
Louis Sebert on Question 756-18(2): Equity Leases
In the Legislative Assembly on May 26th, 2017. See this statement in context.
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