INDU Committee Meeting
Notices of Meeting include information about the subject matter to be examined by the committee and date, time and place of the meeting, as well as a list of any witnesses scheduled to appear. The Evidence is the edited and revised transcript of what is said before a committee. The Minutes of Proceedings are the official record of the business conducted by the committee at a sitting.
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Minutes of Proceedings
The witnesses made statements and answered questions.
Michelle Rempel Garner moved, — That, given the House motion made last week granted the committees power to study outside their usual scope, the Standing Committee on Industry, Science, and Technology conduct a study on Investment Canada Act; that this study determine the extent to which companies within strategic Canadian industries have been devalued as a result of the COVID-19 crisis; the extent to which foreign buyouts may occur; determine whether the current Investment Canada Act valuation thresholds is adequate to trigger a net benefit review given the potential extreme devaluation of companies within strategic Canadian industries; determine whether Canada should place a temporary moratorium on acquisitions from state owned enterprises of authoritarian countries; that this study consist of no less than four meetings; that this study be completed by June 21, 2020; that the Committee table its findings; and that the Government table a comprehensive response.
Lloyd Longfield moved, — That the motion be amended by replacing the words “by June 21, 2020” with the following “after the completion of the study of the Canadian Response to the COVID-19 Pandemic”.
Debate arose thereon.
The question was put on the amendment of Lloyd Longfield and it was negatived on the following recorded division:
YEAS: Ali Ehsassi, Majid Jowhari, Emmanuella Lambropoulos, Lloyd Longfield — 4;
NAYS: Earl Dreeshen, Tracy Gray, Sébastien Lemire, Brian Masse, Jeremy Patzer, Michelle Rempel Garner — 6.
The question was put on the motion and it was agreed to on the following recorded division:
YEAS: Earl Dreeshen, Tracy Gray, Sébastien Lemire, Brian Masse, Jeremy Patzer, Michelle Rempel Garner — 6;
NAYS: Ali Ehsassi, Nathaniel Erskine-Smith, Majid Jowhari, Emmanuella Lambropoulos, Lloyd Longfield — 5.
At 1:03 p.m., the committee adjourned to the call of the Chair.