Mr. Speaker, today the government indicates its intention to release the proposed Canadian securities act. This marks a step towards a long-standing commitment to establish a Canadian securities regulator. I would like to table, for information, in both official languages, the proposed Canadian securities act, here in the House, for the benefit of all members.
I further note that the proposed act is also being distributed electronically to all members, concurrent with its public release.
The proposed act will be the foundation for the creation of a national Canadian securities regulator. The proposed act reflects the input of 10 participating provinces and territories, and the government invites the remaining provinces to join the initiative.
The government has also referred the proposed act to the Supreme Court of Canada for its opinion on the following question: Is the annexed proposed Canadian securities act within the legislative authority of the Parliament of Canada? Should there be a favourable ruling received by the Supreme Court, the Government of Canada intends to introduce, for the adoption of Parliament, a securities act , which would then, of course, go through the normal parliamentary legislative process.