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Reid questions repealing FPI Act before details are finalized June 11, 2007 Opposition Leader Gerry Reid today questioned Fisheries Minister Tom Rideout as to why the Fishery Products International (FPI) Act had to be repealed before any of the final details of the agreement with Ocean Choice International (OCI) and High Liner Foods were finalized. Government introduced the motion to repeal the FPI Act earlier today in the House of Assembly. "I am disappointed that government has decided to repeal the FPI Act before all of the details of the sale of this company are finalized," said Mr. Reid. "The premier is on record as saying that no deal should be passed in the House of Assembly until all of the details are finalized. I question why he has changed his stance and I find it very discouraging that government is willing to scrap this piece of legislation before all of the final agreements are in place." Reid noted that there are still many questions that need to be clarified surrounding the break-up and piecemeal sale of the FPI assets. He also pointed out that the FPI Board of Directors will not even be meeting to discuss this sale for at least another two months. "If government wants to do this correctly, they should wait until all of the due diligence is completed and a final document is ready to be debated. There is no guarantee that what is currently on paper will be reflected in the final agreements. Before voting to repeal something as important as the FPI Act, I feel every MHA should be given an opportunity to debate the final agreements. Unfortunately, it appears government is unwilling to entertain this request. "I still believe the current break-up and piecemeal sale of FPI will be realized as a mistake in a short period of time. There are too many loopholes to give me any confidence that those who work for FPI will benefit from this sale, and I certainly feel that repealing the FPI Act at this time is not the proper course of action."
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