Order in Council 1999-0957/00 authorized Canada Post to wind-up its wholly-owned subsidiary, Canada Post Holdings Limited. Canada Post plans to act upon this authority before the end of this calendar year.
(a) Canada Post has decided to wind-up Canada Post Holdings Limited for organizational simplification and, more importantly, for normal commercial income tax management purposes. Canada Post Holdings Limited has unexpired non-capital losses that it has been carrying forward and that will begin to expire in fiscal year 2000-01. As per normal commercial practice for taxable corporations, Canada Post is permitted to wind-up Canada Post Holdings Limited so that these non-capital losses can be utilized as tax deductions by Canada Post Corporation rather than have them expire in Canada Post Holdings Limited.
(b) Canada Post Corporation will continue to hold 22.9% of the outstanding shares in PCL Holdings Inc. while 2875039 Canada Limited, a wholly-owned subsidiary of Canada Post Corporation, will hold another 72.9%. The remaining 4.2% is held privately. PCL Holdings Inc. holds 100% of Purolator Courier Ltd.
(c) Canada Post Corporation's annual report will continue to provide separate financial and operating information on Purolator Courier Ltd.
Note: As of June 23, 1999, the name of PCL Holdings Inc. has been changed to Purolator Holdings Limited.
Question No. 31—
Mr. Leon E. Benoit:
With regard to the groups consulted by the Standing Committee on Citizenship and Immigration on Bill C-63 in the first session of this parliament during the period from February 1999 through to May 1999: ( a ) which of the groups received government-issued grants and/or subsidies; ( b ) what was the total grant or subsidy; ( c ) what was the reason for the grant or subsidy; and ( d ) which government department issued the grant or subsidy?