I understand perfectly. Thank you very much.
The Standing Committee on Industry, Science and Technology is a fascinating place. We deal with a variety of extremely topical subjects, like intellectual property. Other subjects concern us a great deal, as well. For that reason, I move the following motion:
That the Standing Committee on Industry, Science and Technology immediately undertake a study of the criteria, including national security, defining “net benefit to Canada”, that apply to the review of foreign acquisitions involving the natural resources industry, and specifically the acquisition of Canadian oil and gas companies by foreign state-owned enterprises, under the Investment Canada Act, and that the committee report to the House.
This motion builds on a motion that the House of Commons adopted unanimously in 2010, precisely on the Investment Canada Act.
I am not alone in calling for this clarification. The NDP has made the request repeatedly, and the Prime Minister of Canada has asked for it as well. Industry Canada is reviewing a case as we speak. What's more, Mr. McKenna wrote an article in The Globe and Mail that says:
—Prime Minister Stephen Harper vowed a “clear and new policy framework” is coming. Ottawa promised much the same after the controversial 2010 decision to reject Australian mining giant BHP Billiton Ltd.'s takeover of Potash Corp. of Saskatchewan Inc., but nothing happened.
It is clear that the issue is topical and that the right time to deal with it is now. Furthermore, our committee has a duty to be proactive. The proposal should be adopted.