Mr. Speaker, federal legislation on financial institutions prevents insurance companies with provincial charters from acquiring part of the activities of a federally chartered insurance company.
It denies Quebec companies the opportunity to buy blocks of insurance from a competitor withdrawing from the market. The discrimination in the legislation goes so far as to permit a French, American, Brazilian or other company to do what a Quebec company cannot do in its own country.
My question is for the Minister of Finance. Will he agree before this House to correct this discrimination against Quebec companies immediately? He can do it right now in the course of the present review of the legislation on financial institutions?