Thank you, Minister, and thank you to our witnesses. Committee, we've agreed to consider Bill 14, An Act to Amend the Securities Act. I will ask the Minister of Justice to introduce the bill.

Thank you, Madam Chair. I am here today to present Bill 14, An Act to Amend the Securities Act. I would like to thank the Standing Committee on Social Development for their thorough 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 and, increasingly, worldwide. 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, the provinces and territories have agreed that regulatory improvements are required due to proposed changes to European Union regulations, which come into force on January 1, 2022.

This bill addresses those issues so Canadian benchmark administrators, who provide information necessary for the functioning of global capital markets, can be formally designated in Canada and, thus, continue to operate in the European Union. The proposed amendments ensure securities legislation remains harmonized across jurisdictions, directs compliance to the rules established, and protects members of the public who are investors by ensuring the integrity of the system.

This concludes my opening remarks, and I would be pleased to answer any questions that Members may have regarding Bill 14.

Thank you, Minister. I will now turn to the chair of the Standing Committee on Social Development, the committee that considered the bill for opening remarks. Member for Kam Lake.

Thank you very much, Madam Chair. Bill 14, An Act to Amend the Securities Act receives second reading in the Legislative Assembly on October 29, 2020, and was referred to the Standing Committee on Social Development for review. On February 11, 2021, the standing committee held a public hearing with the Minister of Justice and completed its clause-by-clause review of the bill. I want to thank committee and committee staff for their efforts in reviewing this legislation. Individual members may have additional comments or questions. Thank you, Madam Chair.

Thank you, Member. Minister, would you like to bring witnesses into the Chamber?

Yes, I would.

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

Thank you. I'd like to introduce Matthew Yap, superintendent of securities, and Cherie Jarock, legislative counsel, and they would be happy to answer any questions Members may have about this topic. Thank you.

Thank you, Minister. I will now open the floor to general comments on Bill 14. Does the committee agree that there are no further general comments, and we can proceed to clause-by-clause review of the bill?

Committee, we will defer the bill number and title under after consideration of the clauses. Please turn to page 1 of the bill. Clause 1, does committee agree?

---Clauses 1 through 8 inclusive approved

Committee, to the bill as a whole. Does committee agree that Bill 14, An Act to Amend the Securities Act is now ready for third reading?

Thank you, committee. Bill 14, An Act to Amend the Securities Act is now ready for third reading. Does committee agree that this concludes consideration of Bill 14, An Act to Amend the Securities Act?

Thank you, committee. We have concluded consideration of Tabled Document 165-19(2). Committee, we have agreed to consider Tabled Document 166-19(2), Government of the Northwest Territories Response to Committee Report 2-19(2), Report on Long-Term Post-Pandemic Recovery - Recommendations to the GNWT. I will now open the floor to general comments on Tabled Document 166-19(2). Seeing that there are no comments, thank you, committee. Do you agree that you have concluded consideration of Tabled Document 166-19(2), Government of the Northwest Territories Response to Committee Report 2-19(2), Report on Long-Term Post-Pandemic Recovery - Recommendations to the GNWT?

Thank you, committee. We have concluded consideration of Tabled Document 166-19(2). Committee, we have agreed to consider Tabled Document 167-19(2), Government of the Northwest Territories Response to Committee Report 3-19(2), Report on Long-Term Post-Pandemic Recovery - Recommendations to the GNWT. I will now open the floor to general comments on Tabled Document 167-19(2). Seeing that there are no comments, thank you, committee. Do you agree that you have concluded consideration of Tabled Document 167-19(2), Government of the Northwest Territories Response to Committee Report 3-19(2), Report on Long-Term Post-Pandemic Recovery - Recommendations to the GNWT?

Thank you, committee. We have concluded consideration of Tabled Document 167-19(2). Committee, we have agreed to consider Minister's Statement 77-19(2), National Housing Co-Investment Fund. I will now open the floor to general comments on Minister's Statement 77-19(2). Seeing that there are no comments, thank you to committee. Do you agree that you have concluded consideration of Minister's Statement 77-19(2), National Housing Co-Investment Fund?