Mr. Speaker, with regard to (a), on March 6, 2017, during the House of Commons debates, the Minister of Innovation, Science and Economic Development clarified his earlier statement:
On February 23, during question period, in response to a question from the member for Kamloops—Thompson—Cariboo on the Investment Canada Act, I inadvertently stated that Cedar Tree will now be owned and operated by Canadians going forward. What I meant to say is that Retirement Concepts will continue to be managed and operated by Canadians under its new ownership….
With regard to (b), under the Investment Canada Act, the Minister of Innovation, Science and Economic Development carefully considers each reviewable investment on a case-by-case basis and approves foreign investments to acquire control of a Canadian business only if they are likely to be of net benefit to Canada. The act contains strict confidentiality provisions in regard to information obtained through its administration. Section 36 of the act states that:
that “…all information obtained in respect to a Canadian, a non-Canadian, a business or an entity referred to in paragraph 25.1(c) by the Minister or an officer or employee of Her Majesty in the course of the administration or enforcement of this Act is privileged and no one shall knowingly communicate or allow to be communicated any such information or allow anyone to inspect or to have access to any such information.”
As a result of section 36, Innovation, Science and Economic Development Canada is unable to disclose any information obtained under the Investment Canada Act to respond to this question.