Thank you, Mr. Speaker. The equity leases are contracts that the department is managing and administering in accordance with the lease terms and conditions. If an existing equity lease expires, the department places the lessee in what is known as an overholding tenancy, and so, if the equity portion is paid, the annual lease would be $1 per year. The department is bound by the terms of the lease, and we are allowing the lessee to go into an overholding position. Thank you.
Louis Sebert on Question 723-18(3): Equity Leases
In the Legislative Assembly on May 27th, 2019. See this statement in context.
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