Finance committee  We signed it soon thereafter. I do not have the exact date with me. We knew that the treaty with Hong Kong was close at hand. So we wanted to be efficient, in terms of legislation, so that we would have a certain number of treaties to present to parliamentarians.

Finance committee  In Austria's case, the approval will be granted through an order in council, since the legislation makes this possible under the original agreement with that country. In Barbados's case, the ratification is close at hand. When it comes to France, we are waiting for the ratificati

Finance committee  The enabling legislation Canada passed in the 1970s and 1980s included a provision whereby amendments to treaties could be made by order in council. If my memory serves me right, that stopped being our policy in the mid-1980s or the early 1990s. Today, any amendment or new treaty

Finance committee  The treaty with Namibia was signed in 2006. The negotiations began in 2005. I do not have the signature date on hand. The negotiations were completed before my arrival in 2006, but the treaty was signed a few years later. Obviously, once we, the negotiators, conclude an agreement

Finance committee  The provisional exchange of information in the treaties accommodates three types of exchange. It doesn't make the automatic exchange mandatory, right? It is something that both sides need to be willing to do in order for it to happen.

Finance committee  Well, yes.

Finance committee  I think my answer to that is that the convention allows the taxation authority to ask for any information that is relevant to the administration of taxes—any information.

Finance committee  Absolutely. In the case of Hong Kong, we have a vibrant bilateral economic relationship and this will absolutely help make it easier in terms of cross-border trade and investment.

Finance committee  Well—

Finance committee  Well, they have an obligation to apply the treaty in good faith, so if they have the information, they have to get it to us. If they don't have the information, they have to make their own efforts to get it and give it to us.

Finance committee  It sure is one tool in the tool box, yes.

Finance committee  Absolutely.

Finance committee  Absolutely.

Finance committee  Obviously, we will be able to request information, and that will certainly improve our ability to apply our tax laws and deter those who think they might avoid the fisc by putting money in Hong Kong.

Finance committee  The G-8 summit is on as we speak, and today and tomorrow, and I think we should await the conclusion of the leaders on that.