SoVote

Context: House Hansard - 177 - Mar/31/23

Mar/31/23 10:24:08 a.m.
Watch

Madam Speaker, I thank my colleague for his important question. This is an esteemed colleague who, I believe, is also prepared to move this bill forward quickly. As I was saying, it is in Canada's best interest for us to adopt such a framework. My colleague will have noticed that we ensured that this registry would be capable of what is known as interoperability. We chose to adopt a standard, in fact, the international standard, to enable this interoperability, not only with the registries that we hope the provinces and territories will adopt but also with international registries. As my colleague was saying earlier, there may be businesses located in other administrative regions. Canada is positioning itself as a leader. Obviously, the House will send a strong message to the provinces and territories. Consequently, I implore my colleagues from all parties to support this bill. I think we will be able to count on support from the NDP and the Bloc Québécois, as well as, I hope, our Conservative colleagues to take a step in the right direction so that we have measures to ensure transparency and allow us to fight tax evasion.

199 words

Context: House Hansard - 177 - Mar/31/23

Hon. François-Philippe Champagne

Mar/31/23 10:26:17 a.m.
Watch

Madam Speaker, I would like to thank my esteemed colleague for his contribution, and I think his words lead us to believe that the Conservatives will be supportive. On the first issue, there are some exemptions. One that comes to mind is around minors, for example, and other people who could be at risk when providing that information. What we need to know is that what would be public and searchable would be the name and address of the beneficial owner. What law enforcement authorities would have access to, in addition to that, would be the date of birth and citizenship. We can have a split to make sure that we provide as much relevant information as possible to the public and other entities to be able to search, but I would be open to see what we can do on that, with the caveat that we go fast. The number of exclusions is very limited and they are based on consultation. With respect to interoperability, my colleague will have noted that we developed and used the beneficial ownership data standard, or what we call BODS, which is the international standard, exactly to make sure we can have as many people as possible be able to contribute and ultimately provide the level of accuracy and searchability that we would want to see. I welcome the member's contribution.

228 words

Context: House Hansard - 177 - Mar/31/23

Mr. Brad Vis

Mar/31/23 10:46:34 a.m.
Watch

Madam Speaker, some of these amendments would seek to determine the role of the provinces and territories in guaranteeing the interoperability of this registry. We must also study the Canada Corporations Act threshold.

34 words

Context: House Hansard - 177 - Mar/31/23

Mr. Brad Vis

Mar/31/23 10:50:27 a.m.
Watch

Madam Speaker, I appreciate that very important question from my colleague from Winnipeg. One of the big gaps in this legislation is in clarifying the relationship between significant interests and the role trusts play in corporate structures at all levels of corporate registries in Canada right now and the impact that would have on the interoperability and the overall effectiveness of a corporate registry as we move forward. The member also pointed out the significance of this registry in the context of those provincial bodies. We need to make sure that there is interoperability, of course, to ensure its effectiveness in completing its stated goals.

105 words