Bill C-648 (Historical)

An Act to amend the Investment Canada Act (enhanced ministerial oversight)

This enactment amends the Investment Canada Act to
(a) require the responsible Minister to consult with, and organize conferences of, representatives of industry and labour, provincial and local authorities and other interested persons in exercising his or her powers and performing his or her duties under this Act;
(b) set the threshold for mandatory ministerial review of investments by non-Canadians at 100 million dollars;
(c) require the Director of Investments to refer to the responsible Minister for the purposes of an investment review any representations submitted to the Director by communities, trade unions, employees and other persons likely to be affected by the investment;
(d) require the non-Canadian investor to provide the Director of Investments with a surety that may be forfeited if the non-Canadian investor fails to satisfactorily complete all of the undertakings he or she has made to the Government of Canada in connection with the investment;
(e) require the Minister, in performing an investment review, to take into account the contribution of the investment to community advancement, and its effect on contractual terms applicable to employees and retirees and to undertakings in connection with capital investment by other parties;
(f) eliminate the prohibition against the communication of information related to an investment that is under review;
(g) provide for the review, by the Investment Review Branch of the Department of Industry, of all investments that have been implemented in accordance with this Act; and
(h) extend the timeline for the Minister to perform an investment review from 45 to 90 days.

Investment Canada Act

[Claude Gravelle, NDP, Nickel Belt, ON]

moved for leave to introduce Bill C-648, An Act to amend the Investment Canada Act (enhanced ministerial oversight).

Madam Speaker, I would like to thank my colleague from Windsor West for allowing me to work on this file.

I am so pleased to table this important legislation that would provide substantive improvements to the Investment Canada Act. This bill is the culmination of consultations with stakeholders, experts, academics and labour organizations.

This bill, entitled “an act to amend the Investment Canada Act (enhanced ministerial oversight)”, would, among other things, require the Minister of Industry to consult with representatives of industry and labour, provincial and local authorities and other interested persons in exercising their powers under the Investment Canada Act; lower the threshold for ministerial review to $100 million; invite submissions from interested parties; require sureties from non-Canadian investors; broaden the minister's consideration when evaluating net benefits; eliminate the prohibition against communication of information related to the investment; and extend the timetable for review from 45 to 90 days.

In other words, this bill would strengthen the Investment Canada Act to protect workers and their communities, something the Conservative government and previous Liberal governments have refused to do.

(Motions deemed adopted, bill read the first time and printed)

[Peter Julian, NDP, Burnaby—New Westminster, BC]

Madam Speaker, there have been extensive discussions among parties and I believe you would find unanimous consent for the following motion. I move that, in the opinion of the House, the government should (a) express its support for internal rebuilding, resettlement and reconciliation within Sri Lanka that would address the needs of all ethnic groups and are necessary to ensure a lasting peace; and (b) call on the Sri Lanka government, the United Nations and the international community to work in concert to establish an independent international accountability mechanism that would first, look at war crimes and human rights offences committed by both sides during and after the war in Sri Lanka in a fair manner; second, allow unrestricted access to human rights organizations, aid agencies, journalists and international human rights groups greater freedom of movement, including in internally displaced persons camps; and third, create and implement comprehensive policies based on the respect for human rights, democracy and the rule of law.

[The Acting Speaker, Denise Savoie]

Does the hon. member for Burnaby—New Westminster have the unanimous consent of the House to propose the motion?

[Some hon. members]

Agreed.

No.