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Decentralized Democracy

House Hansard - 156

44th Parl. 1st Sess.
February 8, 2023 02:00PM
Context: House Hansard - 156 - Feb/8/23
Mr. Rick Perkins (South Shore—St. Margarets, CPC)
  • Feb/8/23 5:12:45 p.m.
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  • Re: Bill C-34 
Madam Speaker, the first half of the member's speech was a bit about this bill. The last half, obviously, was not. She is a member of the government, and in 2017, it sent a letter to a company in B.C. that said it is okay to be bought by a state-owned enterprise from China. The former minister of industry said that. The company in China was called Hytera. In 2019, the government did not even do a national security review of this, nor of the acquisition of our only lithium mine, Tanco, in Manitoba. Can the member enlighten this House, with her extensive reading of the bill, by telling us which clause in the bill will stop that from happening in the future?
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Context: House Hansard - 156 - Feb/8/23
Mr. Rick Perkins (South Shore—St. Margarets, CPC)
  • Feb/8/23 5:29:24 p.m.
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  • Re: Bill C-34 
Madam Speaker, I found the member's speech very interesting, particularly with regard to whether there are any documents to support the minister's decision on the acquisition laws. In the last Parliament, recommendation number one of the unanimous report by the industry committee was that a state-owned enterprise's financial ceiling for review by the government be lowered from $415 million, from a hostile country like China, to zero. This bill, Bill C-34, does not propose any changes to that limit, which means that state-owned enterprises can buy up anything they like in this country under $415 million. I would like the member's views on whether he would like to see amendments to this bill in that area.
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Context: House Hansard - 156 - Feb/8/23
Ms. Rachel Blaney (North Island—Powell River, NDP)
  • Feb/8/23 5:47:08 p.m.
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  • Re: Bill C-34 
Madam Speaker, of course, coming from British Columbia, my concern is that we saw a Chinese company come in and buy a lot of seniors' homes. When I look at the piece of legislation, there is still a significant loophole. If something were taken over by the Government of China, as it was before, there would be no process for investment Canada or the minister to be able to review the next acquisition. Is this something the member would support the NDP to look at in the committee?
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Context: House Hansard - 156 - Feb/8/23
Ms. Leah Gazan (Winnipeg Centre, NDP)
  • Feb/8/23 5:58:42 p.m.
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  • Re: Bill C-34 
Madam Speaker, Chinese insurance agent giant Anbang took over B.C.-based Retirement Concepts, a Canadian company that operates senior living facilities. At the time of acquisition, Anbang was a privately owned corporation. After a review by industry Canada, the takeover was approved, and relatively shortly afterwards, the company was seized by the Chinese government, which now holds 98% ownership. At present, there are no provisions in the ICA that would allow industry Canada or the minister to be able to review this subsequent acquisition by a state-owned enterprise of an ICA approved takeover or merger by a foreign private company. Does the member opposite not think that this is an issue? Does he agree that amendments are required?
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