Debates of May 29, 2018 (day 31)

Mr. Speaker, I move, seconded by the honourable Member for Hay River South, that Bill 13, An Act to Amend the Securities Act, be read for the second time. This bill amends the Securities Act to:

allow for automatic reciprocation in the Northwest Territories of orders of extra-territorial securities regulatory authorities designating an issuer to be or cease to be a reporting issuer;

allow for automatic reciprocation in the Northwest Territories of a variety of other prescribed orders issued by, or agreements entered into with, extra-territorial securities regulatory authorities without the necessity of drafting and issuing a further order in the Northwest Territories;

alter the requirements for disclosure documents to be provided to purchasers of exchange-traded funds to allow issuers to provide more accessible format to purchasers in lieu of a full prospectus;

temporarily suspend the limitation period for plaintiffs in secondary market civil liability actions where the application to the court for leave to file an action has been made; and

correct inconsistencies and errors identified in the statute.

Thank you, Mr. Speaker.

Masi. The motion is in order. To the principle of the bill.

Question.

Question has been called. All those in favour? All those opposed? The motion is carried.

---Carried

Bill 13 has had its second reading and is now referred to standing committee. Second reading of bills. Minister of Justice.