Bill C-42

An Act to amend the Canada Business Corporations Act and to make consequential and related amendments to other Acts

This enactment amends the Canada Business Corporations Act to, among other things,
(a) require the Director appointed under that Act to make available to the public certain information on individuals with significant control over a corporation;
(b) protect the information and identity of certain individuals;
(c) add, or broaden the application of, offences and provide the Director with additional enforcement and compliance powers; and
(d) add regulatory authority to prescribe further requirements in certain provisions.
It also makes consequential and related amendments to other Acts.

Canada Business Corporations Act

[Maxime Blanchette-Joncas, Bloc, Rimouski-Neigette—Témiscouata—Les Basques, QC]

Madam Speaker, I commend my colleague on his speech. There are certainly things that we do not agree on, but I would like to focus on what we do agree on. Obviously, we both agree that there must be co-operation between the federal government and the provinces, especially Quebec.

As members are aware, business ownership laws fall under the jurisdiction of Quebec and the provinces. There are things that work well. Every province has its own securities commission. In Quebec, we have the Autorité des marchés financiers. I want to reiterate that it is important that the federal government fully co-operate with the Government of Quebec to share information and to establish a framework or registry that will enable us to fight money laundering. We do not want the government to barge in and make decisions unilaterally, without coordinating those efforts. If we do not centralize the data, our efforts will be counterproductive and we will be duplicating work rather than working effectively.

I would like my colleague to share his thoughts on that. What practical action can the federal government take to work with Quebec and the provinces?

[Rick Perkins, Conservative, South Shore—St. Margarets, NS]

Madam Speaker, I do not think anyone on any side of the House who has been looking at this bill wants it done in a forceful way, where the federal government is coming in to try to force a province to do that. It was not the purpose of our amendments.

I understand Quebec is more advanced perhaps than a number of the other provinces on this. The way to do that is through an interoperability agreement between the federal government and provincial government about what they are both willing to share so our citizens can have access and information truly available and our police forces have an easily searchable database so they do not need to go to lawyers and warn people when they are about to be investigated.

[The Assistant Deputy Speaker (Mrs. Alexandra Mendès), Alexandra Mendes]

Is the House ready for the question?

[Some hon. members]

Question.

[The Assistant Deputy Speaker (Mrs. Alexandra Mendès), Alexandra Mendes]

The question is on the motion.

If a member of a recognized party present in the House wishes that the motion be carried or carried on division or wishes to request a recorded division, I would invite them to rise and indicate it to the Chair.

[Brad Vis, Conservative, Mission—Matsqui—Fraser Canyon, BC]

Madam Speaker, the official opposition would like to request a recorded division.

[The Assistant Deputy Speaker (Mrs. Alexandra Mendès), Alexandra Mendes]

Pursuant to order made on Thursday, June 23, 2022, the division stands deferred until Wednesday, June 21, at the expiry of the time provided for Oral Questions.

[Kevin Lamoureux, Liberal, Winnipeg North, MB]

Madam Speaker, I am rising on a point of order. I believe you have received the proper advance notice and, if you seek it, I believe you will find unanimous consent to see the clock at midnight.

[The Assistant Deputy Speaker (Mrs. Alexandra Mendès), Alexandra Mendes]

I have received notice from all recognized parties that they are in agreement with this request.

Is it agreed?

[Some hon. members]

Agreed.