This is page numbers 4267 - 4292 of the Hansard for the 18th Assembly, 3rd Session. The original version can be accessed on the Legislative Assembly's website or by contacting the Legislative Assembly Library. The word of the day was housing.

Topics

Julie Green

Julie Green Yellowknife Centre

Thank you, Mr. Speaker. Mr. Speaker, I would like to table a document with the title "Review of the Social Work Diploma Program Final Report, April 5, 2018."

The Speaker

The Speaker Jackson Lafferty

Masi. Tabling of documents. Item 15, notices of motion. Item 16, notice of motion for first reading of bills. Item 17, motions. Item 18, first reading of bills. Item 19, second reading of bills. Item 20, consideration in Committee of the Whole of bills and other matters: Bill 7, Chartered Professional Accountants Act; Bill 13, An Act to Amend the Securities Act; Bill 14, Miscellaneous Statute Law Amendment Act, 2018; Bill 15, Document Formalization, Service and Notice Reform Statute Law Amendment Act; Bill 16, An Act to Amend the Social Assistance Act; Bill 17, An Act to Amend the Student Financial Assistance Act; Minister's Statement 19-18(3), Aurora College Foundational Review Process; Tabled Document 215-18(3), Capital Estimates, 2019-2020, with the Member for Hay River North in the chair.

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The Chair

The Chair R.J. Simpson

I will now call Committee of the Whole to order. What is the wish of committee, Mr. Testart?

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Kieron Testart

Kieron Testart Kam Lake

Thank you, Mr. Chairman. Mr. Chairman, the committee would like to take under consideration Bill 13, An Act to Amend the Securities Act; Bill 14, Miscellaneous Statute Law Amendment Act, 2018; Bill 15, Document Formalization, Service and Notice Reform Statute Law Amendment Act; Bill 16, An Act to Amend the Social Assistance Act; and Bill 17, An Act to Amend the Student Financial Assistance Act. Thank you, Mr. Chairman.

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The Chair

The Chair R.J. Simpson

Thank you, Mr. Testart. Does committee agree?

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Some Hon. Members

Agreed.

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The Chair

The Chair R.J. Simpson

Thank you, Mr. Testart. As you can all tell, I am in a rush, so no break today, but I will give everyone a couple of minutes to get organized here. My understanding is that we should move through these pretty quick, so there is no sense in taking a 20-minute break and coming back for only a few minutes. So everyone get organized, take about two minutes, and we will get started right away.

Thank you, committee, for your patience. Committee, we have agreed to consider a number of bills. The first is Bill 13. I will begin by asking the Minister responsible for the bill to introduce it. Minister Sebert.

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Louis Sebert

Louis Sebert Thebacha

Thank you, Mr. Chair. I am pleased to be here today to discuss Bill 13, An Act to Amend the Securities Act. I would like to thank the Standing Committee on Social Development for their review of this bill.

The purpose of securities legislation is to facilitate the raising of capital in the private sector, while providing appropriate protections and remedies for investors. As cross-border trading has evolved over time, the regulation of securities in Canada has become a coordinated activity among all provinces and territories. When the Northwest Territories enacted securities legislation in 2008, it was in line with the coordinated system of regulation across Canada. Since that time, however, most provinces and territories have agreed that regulatory improvements are required; this bill addresses those issues.

The proposed amendments will ensure securities legislation remains harmonized across jurisdictions and will protect members of the public who are investors by streamlining enforcement procedures, making it easier for investors to enforce their rights in court and ensuring that the average investor has access to better-quality, timelier, and easier-to-understand information with which to make their investment decisions.

I would be pleased to answer any questions that the committee may have regarding Bill 13. Thank you.

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The Chair

The Chair R.J. Simpson

Thank you, Minister. I will now turn to the chair of the Standing Committee on Social Development, which is the committee that considered the bill, for any opening comments. Mr. Thompson.

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Shane Thompson

Shane Thompson Nahendeh

Thank you, Mr. Chair. Mr. Chair, the Standing Committee on Social Development concluded its review of Bill 13, An Act to Amend the Securities Act, on September 27, 2018, with a public hearing held at the Legislative Assembly building. The committee received no public submissions on the bill. The committee supports the government's effort to align territorial legislation with contemporary needs in Canadian interjurisdictional agreements. Individual Members may have additional comments or questions as we proceed with considering this bill. Thank you, Mr. Chair.

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The Chair

The Chair R.J. Simpson

Thank you, Mr. Thompson, for that introduction. Minister, would you like to bring witnesses into the Chamber?

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Louis Sebert

Louis Sebert Thebacha

Yes, I would, please.

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The Chair

The Chair R.J. Simpson

Thank you, Minister. Sergeant-at-Arms, please escort the witnesses into the Chamber. Minister, please introduce your witnesses for the record.

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Louis Sebert

Louis Sebert Thebacha

Thank you, Mr. Chair. I have, to my right, Jeremy Walsh, policy officer, and to my left, Christina Brownlee, legislative counsel.

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The Chair

The Chair R.J. Simpson

Thank you. I will open the floor to general comments from committee. Do we have any general comments on the bill? There are no general comments. We can proceed to a clause-by-clause review of the bill. Unless I hear any objections, I will proceed in groups.

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Some Hon. Members

Agreed.

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The Chair

The Chair R.J. Simpson

Thank you. Committee, please turn to page 1 of the bill. I will call out the clauses. If committee agrees, please respond accordingly. Clauses 1 through 5.

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Some Hon. Members

Agreed.

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The Chair

The Chair R.J. Simpson

Clauses 6 through 10.

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Some Hon. Members

Agreed.

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The Chair

The Chair R.J. Simpson

Clause 11.

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Some Hon. Members

Agreed.

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The Chair

The Chair R.J. Simpson

Thank you, committee. To the bill as a whole. Does committee agree that Bill 13 is now ready for third reading?

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Some Hon. Members

Agreed.

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The Chair

The Chair R.J. Simpson

Sorry, committee. Let's do this right, here. Does committee agree that Bill 13, An Act to Amend the Securities Act, is now ready for third reading?