Mr. Lamonlagne:

No.

Mr. Sharp:

I said, the other two.

Mr. Chailerion:

I beg your pardon.

Mr. Smith:

Mr. Chairman, I hope the Acting Minister of Finance will be able to give us the assurance that most of the people who will administer this act will be employees of Central Mortgage and Housing Corporation and that this provision in clause 6 will substantially provide the staff for the board.

Mr. Sharp:

Yes, Mr. Chairman, I can give that assurance. The intention of this provision is to authorize the board to enter into a servicing agreement with Central Mortgage and Housing Corporation. It is not intended to go outside, if the services can be provided by that corporation.

Mr. Smiih:

Does it contemplate that Central Mortgage and Housing Corporation will be paid for those services, or will they have to hire additional staff? If so, does the measure provide for their raising the necessary funds to do this?

Mr. Chatterton:

I have another question, Mr. Chairman. Is the minister going to' answer my hon. friend's question first?

Mr. Sharp:

Mr. Chairman, I have been speaking to my colleague the Minister of National Revenue who is responsible for the

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Municipal Development and Loan Board operation of Central Mortgage and Housing Corporation. He says they would expect to be paid. He would hope he could do it, and make a little money, with the existing staff; but if he did not have enough people, he would have to hire more.

Mr. Chailerion:

I have a question, Mr. Chairman. I presume this board will be reporting to the Minister of Finance; is that correct?

Mr. Sharp:

I think this bill says the minister shall be designated by the governor in council.

Mr. Chailerion:

That has not been decided?

Mr. Sharp:

That has not been decided.

Mr. Chailerion:

If the minister who is to administer this board or have jurisdiction over it is not the Minister of National Revenue, what would be the position if, for instance, the manager of the branch office of Central Mortgage and Housing Corporation in Victoria, British Columbia, had to report on an application from the municipality of Saanich? Would the branch manager send that report to the Minister of National Revenue, or to the minister having jurisdiction in this regard, if they are not the same person?

Mr. Sharp:

The application would be made to the local people who would be the employers of Central Mortgage and Housing Corporation at their branch offices throughout the country, and the application would be forwarded to the board and dealt with in that way.

Mr. Smilh:

I should like to say a word on clause 7. The minister said when we were discussing the last clause that he wanted the board to have some discretion. It seems to me that clause 7 is written in a very narrow way. One might even say that clause 7 (1) (a) is written rather clumsily. I should like to suggest that all the words after the word "period" in the fifth line be deleted, because they could be interpreted either as narrowing the scope of the board, which would in the end limit the employment opportunities offered under this measure, or they could be interpreted as being redundant and repetitious, which would only confuse future interpretations of the clause.

Mr. Sharp:

Mr. Chairman, I read the clause in exactly the opposite way. I suggest that the purpose of clause 7 (l)(a), which I think is the paragraph he refers to-

Mr. Smith:

Yes.

IMr. Sharp.]

Mr. Sharp:

-is to try to establish quite clearly that the projects being financed under the act result in employment over and above what would have taken place had it not been for the act.