44th Parl. 1st Sess.
May 31, 2023 02:00PM
Mr. Speaker, ultimately, we will be waiting to see what comes up at committee and what the study will be, but a couple of things come to mind.
One is that this system has to be efficient. It cannot be overly bureaucratic. Before I was elected to Parliament, I was practising corporate law. I was talking to my law partners the other day, and they were saying that the rules are just too complicated, making it time-consuming and expensive, as the costs are passed on to their clients, so I will be looking for efficiency.
Also, my understanding is that the threshold for having to register someone as a beneficial owner is 25%. I suspect that is too high. It probably has to be a lower number, like 10%.
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