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Decentralized Democracy

House Hansard - 215

44th Parl. 1st Sess.
June 16, 2023 10:00AM
Context: House Hansard - 215 - Jun/16/23
Mr. Chandra Arya (Nepean, Lib.)
  • Jun/16/23 10:11:41 a.m.
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Madam Speaker, corporations, joint stock companies, were conceived almost 150 years back as a means for individuals to pool their resources, de-risk their investments and channel their resources for commercial gains. That is the fundamental reason why these corporations exist. It is not the right of any individual, Canadian or someone outside of Canada, to form a corporation. They do not have this right. They can form a corporation, but the details are not made public. I would like to ask the hon. member whether he agrees that, because it is a privilege offered by the government to individuals to form corporations, the fundamental details of the names of the shareholders and their citizenships should necessarily be made public.
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Context: House Hansard - 215 - Jun/16/23
Mr. Patrick Weiler
  • Jun/16/23 10:30:14 a.m.
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Madam Speaker, I thank my colleague from Joliette for his question. I look forward to seeing his riding as well. That is a good question. We need to be able to determine the identity of the true owners of companies that come from other countries. As I said in my speech, this is a subject that could be researched in anticipation of future amendments to the act. I think this could present problems, because criminals are starting to use very sophisticated methods and they operate in several countries. We need to find ways to fight them.
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