moved:
Motion No. 6
That Bill C-89 be amended by deleting Clause 12.
Motion No. 7
That Bill C-89, in Clause 12, be amended: a ) by replacing line 14, on page 7, with the following:
"12. (1) Subject to subsection (2), the Minister, with the approval of the"; and b ) adding after line 30, on page 7, the following:
"(2) The aggregate amount of all debts of CN owed to Her Majesty in right of Canada may be reduced only by application of the proceeds of sales referred to in paragraph (1)(c), unless the amount to which it is so reduced exceeds a level that an accredited bond rating agency has certified to the Minister in writing as a level that would ensure for CN a bond rating no lower than BBB, in which case the Minister may make such further payment referred to in paragraph (1)(c) only to the extent necessary to reduce the aggregate amount to the level so certified."