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INDU Committee Meeting

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Minutes of Proceedings

44th Parliament, 1st Session
Meeting 85
Thursday, September 21, 2023, 3:42 p.m. to 3:47 p.m.
Webcast
Presiding
Joël Lightbound, Chair (Liberal)

House of Commons
• Jean-François Pagé, Legislative Clerk
• Émilie Thivierge, Legislative Clerk
 
Library of Parliament
• Sarah Lemelin-Bellerose, Analyst
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.

By unanimous consent, it was agreed, — That notwithstanding the committee's decision of Tuesday, September 19, 2023 to adopt the amendment with reference number 12546585:

"That Bill C-34, in Clause 12, be amended by adding after line 11 on page 7 the following:

“(2) Section 25.1 of the Act is renumbered as subsection 25.1(1) and is amended by adding the following:

(2) For greater certainty, the acquisition, in whole or in part, of an entity under paragraph (1)(c) includes the acquisition of the assets of that entity.

(2) For greater certainty, paragraph (1)(c) includes an investment to acquire, in whole or in part, the assets of an entity referred to in that paragraph.""

That this decision be rescinded and that the committee adopt subamendment 12549163:

"That the amendment, proposing to add Clause 8.1 to Bill C-34, be amended by replacing that Clause with the following:

“8.1 (1) Paragraph 20(c) of the Act is replaced by the following:

(c) the effect of the investment on productivity, industrial efficiency, technological development, product innovation and product variety in Canada, including, for greater certainty, the effect of the investment on any rights relating to intellectual property whose development has been funded, in whole or in part, by the Government of Canada;

(2) Paragraph 20(e) of the Act is replaced by the following:

(e) the compatibility of the investment with national industrial, economic and cultural policies, taking into consideration industrial, economic and cultural policy objectives enunciated by the government or legislature of any province likely to be significantly affected by the investment, and including, for greater certainty, the effect of the investment on the use and protection of personal information about Canadians; and"."

Accordingly, the amendment creating New Clause 8.1, as amended, reads as follows:

"8.1 (1) Paragraph 20(c) of the Act is replaced by the following:

(c) the effect of the investment on productivity, industrial efficiency, technological development, product innovation and product variety in Canada, including, for greater certainty, the effect of the investment on any rights relating to intellectual property whose development has been funded, in whole or in part, by the Government of Canada;

(2) Paragraph 20(e) of the Act is replaced by the following:

(e) the compatibility of the investment with national industrial, economic and cultural policies, taking into consideration industrial, economic and cultural policy objectives enunciated by the government or legislature of any province likely to be significantly affected by the investment, and including, for greater certainty, the effect of the investment on the use and protection of personal information about Canadians; and”.

At 3:47 p.m., the committee adjourned to the call of the Chair.



Miriam Burke
Clerk of the committee