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INDU Committee Meeting

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Minutes of Proceedings

44th Parliament, 1st Session
Meeting 79
Wednesday, June 7, 2023, 7:17 p.m. to 8:31 p.m.
Joël Lightbound, Chair (Liberal)

• Jenica Atwin for Iqwinder Gaheer (Liberal)
• Hon. Ed Fast for Ryan Williams (Conservative)
Library of Parliament
• Sarah Lemelin-Bellerose, Analyst
Department of Industry
• Mark Schaan, Senior Assistant Deputy Minister, Strategy and Innovation Policy Sector
• Jamieson McKay, Director General, Strategy and Innovation Policy
• Mehmet Karman, Senior Policy Analyst, Investment Review Branch
Pursuant to the order of reference of Monday, April 17, 2023, the committee resumed consideration of Bill C-34, An Act to amend the Investment Canada Act.

The witnesses answered questions.

The committee commenced its clause-by-clause study of the Bill.

Consideration of Clause 1 (alternative title) was postponed.

The Chair called New Clause 1.1.

On new Clause 1.1,

Rick Perkins moved, — That Bill C-34 be amended by adding before line 6 on page 1 the following new clause:

“1.1 The definition state-owned enterprise in section 3 of the Investment Canada Act is amended by striking out “or” at the end of paragraph (b) and by adding the following after that paragraph:

(b.1) an entity that has its headquarters in a foreign state in which basic democratic rights and freedoms are not recognized; or”

After debate, the question was put on the amendment of Rick Perkins and it was negatived on the following recorded division:

YEAS: Ed Fast, Brian Masse, Rick Perkins, Brad Vis — 4;

NAYS: Jenica Atwin, Andy Fillmore, Bernard Généreux, Majid Jowhari, Viviane Lapointe, Sébastien Lemire, Tony Van Bynen — 7.

Clause 2 carried.

Clause 3 carried.

Clause 4 carried.

Clause 5 carried.

Clause 6 carried.

On Clause 7,

Andy Fillmore moved, — That Bill C-34, in Clause 7, be amended by replacing lines 16 to 18 on page 4 with the following:

“15 An investment referred to in paragraph 11(1)(a) or (b) that is subject to notification under Part III and that would not otherwise be reviewable under this Part is re-”

After debate, the question was put on the amendment of Andy Fillmore and it was agreed to.

Rick Perkins moved, — That Bill C-34, in Clause 7, be amended by adding after line 19 on page 4 the following:

“(2) Section 15 of the Act is renumbered as subsection 15(1) and is amended by adding the following:

(2) Despite the limits set out in subsections 14(3), 14.1(1) and (1.1) and 14.11(1) and (2), an investment is reviewable under this Part if

(a) the non-Canadian making the investment is a state-owned enterprise or is controlled by a state-owned enterprise;

(b) the Governor in Council, on the recommendation of the Minister, is of the opinion that a review of the investment is in the public interest; and

(c) the Governor in Council issues an order for the review within 21 days after the day on which the non-Canadian gives notice of the investment to the Director.”

Debate arose thereon.

At 8:31 p.m., the committee adjourned to the call of the Chair.

Miriam Burke
Clerk of the committee