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Finance committee I would say that's a separate topic.
November 26th, 2014Committee meeting
Mark Pearson
Finance committee Just to clarify, there is no reporting obligation on the part of aboriginal governments. The reporting obligations are on the part of the commercial entities.
November 26th, 2014Committee meeting
Mark Pearson
Finance committee So the concern has been that all the stakeholders have asked if we could have a deferral so we could better inform aboriginal governments, work with them, to bring them into the implementation, hence the two-year deferral that's in the legislation.
November 26th, 2014Committee meeting
Mark Pearson
Finance committee Yes, that is correct.
November 26th, 2014Committee meeting
Mark Pearson
Finance committee The intention of the legislation is to work with our international partners to achieve a common global standard, so we are working to align with those other jurisdictions.
November 26th, 2014Committee meeting
Mark Pearson
Finance committee Actually it is present, and I'll refer to Ekaterina to speak to that.
November 26th, 2014Committee meeting
Mark Pearson
Natural Resources committee No. The U.S. was the first out of the blocks, and they used a $100,000 threshold. Then the Europeans followed suit with 100,000 euros, and then for us, to try to align, it was $100,000 Canadian.
November 18th, 2014Committee meeting
Mark Pearson
Natural Resources committee No, I outlined the categories. Once payments—either one-time payments or a series of payments—hit the $100,000 threshold, they have to be reported. There's just one threshold.
November 18th, 2014Committee meeting
Mark Pearson
Natural Resources committee What I can say is that when we consulted with industry, some of our larger companies said the threshold should be much higher, for example, $1 million. They said even $100,000 for them is quite granular. Some of the smaller junior companies said maybe $10,000 would be appropriate
November 18th, 2014Committee meeting
Mark Pearson
Natural Resources committee Okay. As I noted earlier, the threshold is $100,000, and that's broken down by categories of payment. The payment categories are taxes, royalties, fees, production entitlements, bonuses, dividends, and payments for infrastructure improvements. Those are the broad categories. T
November 18th, 2014Committee meeting
Mark Pearson
Natural Resources committee I'm going to ask my colleague Ekaterina to respond to that.
November 18th, 2014Committee meeting
Mark Pearson
Natural Resources committee We are planning to go across the country to visit with first nations communities. We are developing the plan now. We haven't finalized our plan or our budget, but we do plan to do a comprehensive engagement.
November 18th, 2014Committee meeting
Mark Pearson
Natural Resources committee I don't have any evidence of that.
November 18th, 2014Committee meeting
Mark Pearson
Natural Resources committee Well, when we went out to do our consultations, engagement and information sessions with stakeholders over the past year, we heard from industry that because these payments are oftentimes included in impact benefit agreements with aboriginal organizations, they felt it would be u
November 18th, 2014Committee meeting
Mark Pearson
Natural Resources committee In this case, it does apply in the domestic context as well. Prime Minister Cameron, when he asked G-8 leaders to support the common global standard, pointed to a lot of corruption that's happening in developing countries. For example, in Nigeria, they went through a process wh
November 18th, 2014Committee meeting
Mark Pearson