Mr. Chairman, let me read the overview of the Investment Canada Act, because I think it clearly points out what the minister can and can't do. It says here, and I'm sure the researcher would have this, that the minister has 45 days from the date of receipt by Investment Canada of the completed application to decide whether the investment is likely to be of net benefit to Canada. This 45-day period may be unilaterally, by the minister, extended for a further 30 days, or with the agreement of the applicant for such longer period as is agreed upon between the applicant and the minister. It says, though, that if no notice is sent to the applicant within 45 days, or a longer period, the investment is deemed to be approved.
I think the nature of the motion, where Colin is coming from, is whether or not one uses the word “delay”, which I think is probably the most operative word, because we want him, the minister, to essentially avail himself of the options available under Investment Canada to go at least to the 75 days as opposed to the 45 days, which he now has. I think the committee would be giving some sort of guidance to the minister that we believe that 45 days is not appropriate, that he take at least the 75 days, all for the reasons that would be expressed, including the reasons that Mr. Bonin had suggested.
I think the motion put forward is not contrary to what the Investment Act says. I think it should be seen in the light that the committee has given some sort of guidance to the minister to avail himself of the full 75 days with regard to dealing with this particular application so that a true net benefit to Canada, in all the sense of the word, can be evaluated.