moved:
Motion No. 1
That Bill C-70, in Clause 26, be amended by replacing lines 30 to 45 on page 38 and lines 1 to 6 on page 39 with the following:
"(1.3) Where a ) a registrant (in this subsection referred to as the
auctioneer''), on a particular day, makes a particular supply by auction of prescribed property on behalf of another registrant (in this subsection referred to as theprincipal'') and, but for subsection (1.2), that supply would be a taxable supply made by the principal, b ) the auctioneer and principal jointly elect in prescribed form containing prescribed information in respect of the particular supply, and c ) all or substantially all of the consideration for supplies made by auction on the particular day by the auctioneer on behalf of the principal is attributable to supplies of prescribed property in respect of which the auctioneer and principal have elected under this subsection,subsection (1.2) does not apply to the particular supply or to any supply made by the auctioneer to the principal of services relating to the particular supply."