Mr. Speaker, the Investment Canada Act creates a regime under which certain transactions are reviewable. The first requirement is that the acquiring corporation be non-Canadian.
Therefore, we do not know until we determine in this particular case whether Seagram is Canadian or non-Canadian and whether there is a reviewable transaction under the Investment Canada Act.
What I said was not that nothing was being done on this file but that nothing has been done because her colleague accused the government of wrongdoing on this file. Nothing has been done. The issue is open and under consideration by the acting president of Investment Canada. We will be obtaining information from the file in Investment Canada that will deal with it because the transaction is located in Investment Canada.
However, until all of the facts have been obtained we cannot say there is a reviewable transaction. Therefore, the issues of net benefit to Canada are not yet under discussion.