INDU Committee Meeting
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Minutes of Proceedings
Justin Brown, Sasha Caldera, Supt Denis Beaudoin and James Cohen each made an opening statement and with Annette Ryan answered questions.
At 6:17 p.m., the sitting was suspended.
At 6:29 p.m., the sitting resumed.
The committee commenced its clause-by-clause study of the Bill.
The Chair called Clause 0.1.
On new Clause 0.1,
Rick Perkins moved, — That Bill C-42 be amended by adding before line 4 on page 1 the following new clause:“0.1 Paragraphs 2.1(3)(a) and (b) of the Canada Business Corporations Act are replaced by the following:
(a) any number of shares that carry 10% or more of the voting rights attached to all of the corporation’s outstanding voting shares; or
(b) any number of shares that is equal to 10% or more of all of the corporation’s outstanding shares measured by fair market value.”
After debate, the question was put on the amendment of Rick Perkins and it was negatived on the following recorded division:
YEAS: Bernard Généreux, Brian Masse, Rick Perkins, Gerald Soroka, Ryan Williams — 5;
NAYS: Andy Fillmore, Iqwinder Gaheer, Viviane Lapointe, Sébastien Lemire, James Maloney, Tony Van Bynen — 6.
On Clause 1,
Rick Perkins moved, — That Bill C-42, in Clause 1, be amended(a) by adding before line 4 on page 1 the following:
“1 (0.1) The portion of subsection 21.1(1) of the Canada Business Corporations Act before paragraph (a) is replaced by the following:
21.1 (1) The corporation shall prepare and maintain, at its registered office or at any other place in Canada designated by the directors, a register of individuals with significant control over the corporation and its real property or immovables that contains”
(b) by adding after line 13 on page 1 the following:
“(a.2) the street address or, if there is no address, a description of the precise location of the real property or immovables of the corporation, if any;”
The question was put on the amendment of Rick Perkins and it was negatived on the following recorded division:
YEAS: Bernard Généreux, Brian Masse, Rick Perkins, Gerald Soroka, Ryan Williams — 5;
NAYS: Andy Fillmore, Iqwinder Gaheer, Viviane Lapointe, Sébastien Lemire, James Maloney, Tony Van Bynen — 6.
Clause 1 carried.
On Clause 2,
Brian Masse moved, — That Bill C-42, in Clause 2, be amended by replacing line 32 on page 2 with the following:“ing $100,000.”
After debate, the question was put on the amendment of Brian Masse and it was agreed to on the following recorded division:
YEAS: Andy Fillmore, Iqwinder Gaheer, Bernard Généreux, Viviane Lapointe, Sébastien Lemire, James Maloney, Brian Masse, Rick Perkins, Gerald Soroka, Tony Van Bynen, Ryan Williams — 11;
NAYS: — 0.
Clause 2, as amended, carried.
Clause 3 carried.
On Clause 4,
Rick Perkins moved, — That Bill C-42, in Clause 4, be amended by replacing line 3 on page 3 with the following:“21.302 The Director shall provide all or part of the infor‐”
After debate, the question was put on the amendment of Rick Perkins and it was negatived on the following recorded division:
YEAS: Bernard Généreux, Rick Perkins, Gerald Soroka, Ryan Williams — 4;
NAYS: Andy Fillmore, Iqwinder Gaheer, Viviane Lapointe, Sébastien Lemire, James Maloney, Brian Masse, Tony Van Bynen — 7.
“(c.1) the street address or, if there is no address, a description of the precise location of the real property or immovables of the corporation, if any;”
The question was put on the amendment of Rick Perkins and it was negatived on the following recorded division:
YEAS: Bernard Généreux, Brian Masse, Rick Perkins, Gerald Soroka, Ryan Williams — 5;
NAYS: Andy Fillmore, Iqwinder Gaheer, Viviane Lapointe, Sébastien Lemire, James Maloney, Tony Van Bynen — 6.
(a) by replacing lines 21 and 22 on page 3 with the following:
“vidual who is less than 18 years of age.
(2.1) Any information received by the Director on an individual in respect of whom subsection (1) does not apply must be provided to an investigative body on request.”
(b) by replacing lines 1 and 2 on page 4 with the following:
“(4) Any information received by the Director on an individual in respect of whom an application made under subsection (3) has been granted must be provided to an investigative body on request.”
After debate, the question was put on the amendment of Rick Perkins and it was negatived on the following recorded division:
YEAS: Bernard Généreux, Rick Perkins, Gerald Soroka, Ryan Williams — 4;
NAYS: Andy Fillmore, Iqwinder Gaheer, Viviane Lapointe, Sébastien Lemire, James Maloney, Brian Masse, Tony Van Bynen — 7.
“(c.1) their jurisdiction of residence for tax purposes;
(c.2) the name of the corporation;”
After debate, the question was put on the amendment of Rick Perkins and it was negatived on the following recorded division:
YEAS: Bernard Généreux, Rick Perkins, Brad Vis, Ryan Williams — 4;
NAYS: Andy Fillmore, Iqwinder Gaheer, Viviane Lapointe, Sébastien Lemire, James Maloney, Brian Masse, Tony Van Bynen — 7.
(a) by deleting lines 17 and 18 on page 3.
(b) by replacing lines 20 to 22 on page 3 with the following:
“(2) The Director shall make the information referred to in subsection 21.1(1) that was sent to the Director under section 21.21 available to the public in a searchable format.”
After debate, the question was put on the amendment of Rick Perkins and it was negatived on the following recorded division:
YEAS: Bernard Généreux, Brian Masse, Rick Perkins, Brad Vis — 4;
NAYS: Andy Fillmore, Iqwinder Gaheer, Viviane Lapointe, Sébastien Lemire, James Maloney, Tony Van Bynen — 6.
“(3) A post office box shall not be used as an address for service.”
After debate, the question was put on the amendment of Rick Perkins and it was negatived on the following recorded division:
YEAS: Bernard Généreux, Rick Perkins, Brad Vis, Ryan Williams — 4;
NAYS: Andy Fillmore, Iqwinder Gaheer, Viviane Lapointe, Sébastien Lemire, James Maloney, Brian Masse, Tony Van Bynen — 7.
Clause 4 carried.
On Clause 5,
Brian Masse moved, — That Bill C-42, in Clause 5, be amended by adding after line 9 on page 4 the following:“(2) Subsection 21.4(5) of the Act is replaced by the following:
(5) A person who commits an offence under any of subsections (1) to (4) is liable on summary conviction to a fine not exceeding one million dollars or to imprisonment for a term not exceeding five years, or to both.”
The question was put on the amendment of Brian Masse and it was agreed to on the following recorded division:
YEAS: Andy Fillmore, Iqwinder Gaheer, Bernard Généreux, Viviane Lapointe, Sébastien Lemire, James Maloney, Brian Masse, Rick Perkins, Tony Van Bynen, Brad Vis, Ryan Williams — 11;
NAYS: — 0.
Clause 5, as amended, carried.
Clause 6 carried.
Clause 7 carried.
Clause 8 carried.
Clause 9 carried.
Clause 10 carried.
Clause 11 carried.
Clause 12 carried.
Clause 13 carried.
Clause 14 carried.
On Clause 15,
Brad Vis moved, — That Bill C-42, in Clause 15, be amended(a) by adding after line 26 on page 7 the following:
“(2.1) The Director may, with the approval of the Minister, enter into an agreement or arrangement with a provincial corporate registry or with a provincial government department or agency that is responsible for corporate law in the province for the purpose of facilitating timely access to beneficial ownership information that could relate to the commission or potential commission of wrongdoing as described in paragraph (3)(b).”
(b) by adding after line 34 on page 7 the following:
“(4) In this section and in sections 21.1 to 22, corporation includes a corporation that is incorporated under an Act of the legislature of a province that has entered into an agreement or arrangement under subsection (2.1).”
After debate, the question was put on the amendment of Brad Vis and it was negatived on the following recorded division:
YEAS: Bernard Généreux, Rick Perkins, Brad Vis, Ryan Williams — 4;
NAYS: Andy Fillmore, Iqwinder Gaheer, Viviane Lapointe, Sébastien Lemire, James Maloney, Brian Masse, Tony Van Bynen — 7.
Clause 15 carried.
By unanimous consent, Clauses 16 to 21 inclusive carried severally.
The Title carried.
The Bill, as amended, was adopted.
ORDERED, — That the Chair report the Bill, as amended, to the House.
ORDERED, — That Bill C-42, as amended, be reprinted for the use of the House of Commons at report stage.
At 7:37 p.m., the committee adjourned to the call of the Chair.