Wally Schumann

Thank you, Mr. Speaker. Currently there is significant opportunity to secure funding for marine infrastructure in the Northwest Territories under the Oceans Protection Plan, which I have mentioned in the House here lately. Under this program, the federal government is investing roughly $94.3 million over five years under the Safety Equipment and Basic Marine Infrastructure in Northern Communities Initiative, which is the intent to make investments in on-the-ground safety equipment and basic marine infrastructure to support safer communities, resupply operations, in training for the use of...

Thank you, Mr. Chair. We need to operationalize this. What we want to do is: when we do the review, we want to look at their operations and how they are doing things within their operations. Through this review that we are going to be conducting with them, which we will be presenting the term of reference probably shortly to committee or once we have all the information pulled together and hope we are going to have that in the next couple of weeks or so, we will be able to review how they operationalize their operation. That is how I will be conducting it. Thank you, Mr. Chair.

Thank you, Mr. Chair. On my immediate right is the director of finance and administration for the Department of ITI, Julie Mujcin. On my right is Department of Justice legislative drafter, Doug Ward. Thank you, Mr. Chair.

Thank you, Mr. Chair. I am here to present Bill 21, An Act to Amend the Northwest Territories Business Development and Investment Corporation Act.

The NWT Business Development and Investment Corporation, or BDIC, is a territorial Crown corporation that was established in 2005 to promote and maintain economic development and employment.

While the corporation generates substantial income from its investments and loans, it is currently prohibited by its act from using this income to fund its operations.

Instead, the BDIC relies on the Government of the Northwest Territories and some third-party...

Mr. Speaker, I move, seconded by the honourable Member for Inuvik Twin Lakes, that Bill 21, An Act to Amend the Northwest Territories Business Development and Investment Corporation Act, be read for the second time. This bill amends the Northwest Territories Business Development and Investment Corporation Act to allow the Northwest Territories Business Development and Investment Corporation to use money received by the corporation in interest in a financial year for the purpose of carrying on business of the corporation in the following fiscal year if certain conditions are met, and correct an...

Mr. Speaker, I move, seconded by the honourable Member for Inuvik Twin Lakes, that Bill 21, An Act to Amend the Northwest Territories Business Development and Investment Corporation Act, be read for the first time. Thank you, Mr. Speaker.

Mr. Speaker, I wish to table the following document entitled "Northwest Territories Office of the Regulator of Oil and Gas Operations Annual Report 2017-2018." Thank you, Mr. Speaker.

Thank you, Mr. Chair. This is not just about a fiscal reduction. We have got to do a review every five years, and we are going to do that. I am the Minister of ITI; they are under my realm, and I want to have a serious look at how this place is operating and what overlaps with other lending institutes we have in the Northwest Territories, and are we best facilitating and organization that meets the needs of the residents of the Northwest Territories and using our cash wisely. That is what you call prudent management, and we will continue to do that going forward. Thank you, Mr. Chair.

Thank you, Mr. Speaker. I am glad to inform the Member we have already directed our superintendent to reach out to the community, which they have. They are in discussions. We were going to provide assistance with the community on how to prepare their CAP proposal for this project through the Department of Infrastructure, and we will be working with them closely, and I will be following this project closely.

Thank you, Mr. Chair. I suspect we can share that during the business planning sessions as we go forward and be able to do it through that process. Thank you, Mr. Chair.