SoVote

Decentralized Democracy

House Hansard - 203

44th Parl. 1st Sess.
May 31, 2023 02:00PM
Context: House Hansard - 203 - May/31/23
Mr. Xavier Barsalou-Duval (Pierre-Boucher—Les Patriotes—Verchères, BQ)
  • May/31/23 5:03:33 p.m.
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  • Re: Bill C-42 
Mr. Speaker, Bill C‑42 is unquestionably an important step forward in terms of greater transparency and in knowing who really owns businesses registered in Canada. However, there are limits to that. Perhaps my colleague could speak about that. For instance, if a company registered in Barbados, in a tax haven or in any other country in which the laws do not require the same transparency around the beneficial ownership of businesses, transparency ends when there is no transparency. If the business is held in a location where there is no transparency, that ultimately limits the possibility of obtaining all the information. Does my colleague have any ideas about what could be done to resolve this problem in the future?
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Context: House Hansard - 203 - May/31/23
Mr. Mel Arnold
  • May/31/23 5:19:27 p.m.
  • Watch
  • Re: Bill C-42 
Mr. Speaker, certainly, the threshold of 25% seems to be quite high, especially when tracking of that foreign ownership may not be all that clear in other countries. That 25% threshold, I believe, should be lowered, and we may see that amendment at the committee stage.
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