Madam Chair, Bill 84, An Act to Amend the Northwest Territories Business Development and Investment Corporation Act, received second reading in the Legislative Assembly on March 30th, 2023, and was referred to the Standing Committee on Economic Development and Environment for review.

Bill 84 is proposed to make numerous changes to legislation that impacts the operations of the corporation. The bill would have also changed the name of the corporation to Prosper NWT. At the time, the committee had concerns about the board of the corporation, from the vacant board positions, inadequate representation from the communities. Further, the committee believes that the Crown corporation of the government, the corporation should have interacted more with the public when going through a rebranding exercise. While the amendment could not have been addressed the concerns about the board's composition, the lack of transparency, the name selection procedure could not be changed at the stage of the process. That is why the committee decided to do its clause by clause on Bill 84 on July 25th, 2023, that the bill was not ready to move forward.

I would like to thank the committee for its work on the review of Bill 84. Individuals and Members may have additional comments.

But before I hand it over to -- back to you, Madam Chair, I'd just like -- on a personal note, Prosper NWT, BDIC, it doesn't matter. As the chair, or board -- for myself, I just want to make sure access to funds for small businesses are into the communities. And I really think this is a really good program for our small businesses across the territory. And I think it doesn't matter the name in regards to it, just as long as it's getting out the door and helping who needs help. Thank you, Madam Chair.