Madam Speaker, I move, seconded by the honourable Member for Yellowknife Centre, that Bill 65, Builder's Lien Act, be read for the second time.
This bill repeals the Mechanics Lien Act. It replaces it with a new act that sets out modern law regarding builder's liens, an area of construction law. Specifically this new act sets out the following:
trust provisions and the duties of owners, contractors and subcontractors and vendors as trustees of revenue received;
details respecting how liens are created and calculated and how they can be applied as interest against land;
holdbacks and finishing holdbacks to ensure that contractors and subcontractors are not left outofpocket and the consequences of nonpayment of holdbacks;
expiry, preservation and perfection of liens;
rights to information about contracts, subcontracts, trust funds, substantial performance and accounts;
examination and liability for not providing that information including for costs;
discharge of a preserved or perfected lien;
jurisdiction by the Supreme Court;
appointment of trustees and their powers;
priorities of liens over other interests and agreements;
surety bonds, their use and the rights of action that they impart;
miscellaneous provisions including acting in bad faith, abuse of process, service, how rules of the Supreme Court are applied;
regulationmaking authority; and,
transitional provisions.
Thank you, Madam Speaker.
Thank you. The motion is in order. To the principle of the bill. Member for Yellowknife North.
Thank you, Madam Speaker. In my previous life, I've had the experience of dealing with our Mechanics Lien Act, and I just want to commend the Minister on getting this done. It was a severely outdated piece of legislation, and I'm quite excited to get this done and review it in committee. Thank you, Madam Speaker.
Thank you. To the principle of the bill.
Question.
DEPUTY SPEAKER:
Carried
Second reading of bills. Minister of Municipal and Community Affairs.
