Hon. Peter M. Boehm moved the adoption of the report.

He said: Honourable senators, I rise today as Chair of the Standing Senate Committee on Foreign Affairs and International Trade to explain amendments to Bill S-217, as adopted by the committee.

Bill S-217, An Act respecting the repurposing of certain seized, frozen or sequestrated assets, otherwise known as the frozen assets repurposing act, or FARA, was referred to the committee on March 1 after being introduced in the Senate on November 24, 2021, by Senator Omidvar.

The committee began its study on March 24 and welcomed three panels of officials and experts over two meetings. We completed clause-by-clause consideration on March 31.

I wish to thank all the witnesses, especially the bill’s sponsor, and all committee members and staff for their work in ensuring the committee discharged its duties effectively and in a timely manner. This was very important, honourable senators, given the grave geopolitical conflicts, wars and refugee and humanitarian crises we see all around the world.

Honourable senators, as stated in the summary of Bill S-217, it:

. . . provides for the reporting and disposition of assets seized, frozen or sequestrated under the Special Economic Measures Act, the Freezing Assets of Corrupt Foreign Officials Act, and the Justice for Victims of Corrupt Foreign Officials Act (Sergei Magnitsky Law).

The committee adopted two amendments based on recommendations of expert witnesses. Both were moved by Senator Coyle and fully supported by the bill’s sponsor, Senator Omidvar. The first amendment is to clause 2 and the second amendment to clause 6.

Ultimately, colleagues, both amendments have the effect of strengthening the bill by harmonizing its language and conditions for repurposing assets with that found in its enabling legislation, the Special Economic Measures Act, also known as SEMA.

These amendments, if approved by the Senate, will help to ensure that courts tasked with repurposing assets frozen in Canada are able to do so fully and in the fundamental spirit of Bill S-217. Therefore, I move the adoption of the report.

Thank you, colleagues.