Industry Committee on Feb. 21st, 2017

Evidence of meeting #48 for Industry, Science and Technology in the 42nd Parliament, 1st Session. (The original version is on Parliament’s site, as are the minutes.) The winning word was gender.

A recording is available from Parliament.

On the agenda

Bill C-25

Committee Business

MPs speaking

Also speaking

Claire Woodside Director, Publish What You Pay Canada

Clare Beckton Executive Director, Centre for Women in Politics and Public Leadership, Carleton University

Mora Johnson Barrister and Solicitor, Publish What You Pay Canada

9:40 a.m.

Executive Director, Centre for Women in Politics and Public Leadership, Carleton University

Clare Beckton

I think that if we really want it to be successful, there should be a signal sent out to the federally regulated industries to say that's what you're looking for. Otherwise, with a bill, at least as I see it in the legislation itself, that doesn't require an explanation. It's a very soft nudge. I think you need to have a push, not just a nudge.

9:40 a.m.

Conservative

Alex Nuttall Conservative Barrie—Springwater—Oro-Medonte, ON

As we move forward on this bill, this committee is going to make a recommendation back. Is there an opportunity for you or for others who've spoken with the minister to start pushing that type of target?

9:40 a.m.

Executive Director, Centre for Women in Politics and Public Leadership, Carleton University

Clare Beckton

As I said, I'm not an advocacy group. I'm a centre for research in politics, so I don't lobby. I'll make that clear; I'm not a lobbyist. I give, however, my best advice when I'm asked to come before a parliamentary committee. When I'm asked by any member of Parliament or a minister, I will give them my best advice.

I'll leave it at that.

9:40 a.m.

Conservative

Alex Nuttall Conservative Barrie—Springwater—Oro-Medonte, ON

As to economic benefits, because I believe this was the original driver behind the bill—it's actually a bill from the previous government—the stats have been out, but they haven't been published very widely.

From your perspective, how do we get the information to Bay Street and to the public that these are facts of the data we've collected, not some talking point? How do we actually get the information out there so that people know it? Very few people realize the detrimental effect of having a closed shop.

9:45 a.m.

Liberal

The Chair Liberal Dan Ruimy

Respond very briefly, please.

9:45 a.m.

Executive Director, Centre for Women in Politics and Public Leadership, Carleton University

Clare Beckton

I think you can put it out in some of the messages coming from here, as you put the bill out, that there's all sorts of evidence pointing to the significance and the economic advantage of having women and diversity on your boards. The studies are there, and if you're in the corporate world and you haven't read them, that's not a good thing.

9:45 a.m.

Conservative

Alex Nuttall Conservative Barrie—Springwater—Oro-Medonte, ON

Yes, for sure.

9:45 a.m.

Liberal

The Chair Liberal Dan Ruimy

Thank you.

We're going to move to Mr. Baylis. You have five minutes.

February 21st, 2017 / 9:45 a.m.

Liberal

Frank Baylis Liberal Pierrefonds—Dollard, QC

My questions would be for Ms. Woodside.

I'd like to understand and to draw out a bit more on the bearer shares concern. If I understand correctly, when this law is drafted, I can voluntarily give up my bearer shares, but I'm not obligated to. Is that the crux of the matter?

9:45 a.m.

Director, Publish What You Pay Canada

Claire Woodside

Yes. The current drafting means that if you have bearer shares.... For example, if you are a criminal, you could register them.

9:45 a.m.

Liberal

Frank Baylis Liberal Pierrefonds—Dollard, QC

Hypothetically—

9:45 a.m.

Director, Publish What You Pay Canada

Claire Woodside

Hypothetically, if you were a criminal.

9:45 a.m.

Liberal

Frank Baylis Liberal Pierrefonds—Dollard, QC

I'm a criminal hypothetically.

9:45 a.m.

Voices

Oh, oh!

9:45 a.m.

Director, Publish What You Pay Canada

Claire Woodside

Or you could be a regular person and you might want to register them. You could have had them sitting in a safe for 20 years.

9:45 a.m.

Liberal

Frank Baylis Liberal Pierrefonds—Dollard, QC

I'm a politician, but I'm not yet—

9:45 a.m.

Director, Publish What You Pay Canada

Claire Woodside

Not quite there, eh?

9:45 a.m.

Liberal

Frank Baylis Liberal Pierrefonds—Dollard, QC

Is what happens right now that some person who is a holder of bearer shares can with this law request them, and the company must convert them; however, if I'm not interested in converting them, I don't need to and I can maintain the bearer shares?

9:45 a.m.

Director, Publish What You Pay Canada

Claire Woodside

Yes.

9:45 a.m.

Liberal

Frank Baylis Liberal Pierrefonds—Dollard, QC

You're looking to change that provision. Can you elaborate on how you would like to change it?

9:45 a.m.

Director, Publish What You Pay Canada

Claire Woodside

We're looking to ensure that before an individual exercises the rights associated with those shares, they have to register them. They have to convert them.

9:45 a.m.

Liberal

Frank Baylis Liberal Pierrefonds—Dollard, QC

For example...?

9:45 a.m.

Director, Publish What You Pay Canada

Claire Woodside

For example, they pledge them as a security or they cash them in.

9:45 a.m.

Liberal

Frank Baylis Liberal Pierrefonds—Dollard, QC

Or they want to vote them...?

9:45 a.m.

Director, Publish What You Pay Canada

Claire Woodside

Sure, or they want to vote.