Mr. Speaker, right now the member will know that the government embarked upon a regulatory reform pursuant to an action plan that was adopted in 2010. The House and colleagues will remember that in the last session—late spring of last year—we passed the NUPPAA, which was the first part of the regulatory reform taking place that affected the Yukon, the Northwest Territories and Nunavut.
With this bill, we really bring to the Northwest Territories a regulatory regime that will keep the territory competitive in terms of the regime it operates under, vis-à-vis the Yukon or Nunavut.
If we look at the facts right now, the disadvantage of duplication, uncertainty of applications and inefficiencies has not worked well for the Government of the Northwest Territories and its people. It is important that we pass this bill so that they can benefit from the new regulatory regime.