Speech (committee meeting)

{
    "time": "2018-11-05 16:50:00",
    "attribution": {
        "en": "Mr. Mark Schaan (Director General, Marketplace Framework Policy Branch, Innovation, Science and Economic Development Canada)",
        "fr": "M. Mark Schaan (directeur g\u00e9n\u00e9ral, Direction g\u00e9n\u00e9rale des politiques-cadres du march\u00e9, Innovation, Sciences et D\u00e9veloppement \u00e9conomique Canada)"
    },
    "content": {
        "en": "<p data-HoCid=\"5662315\" data-originallang=\"fr\">Thank you, Mr. Chair.</p>\n<p data-HoCid=\"5662316\" data-originallang=\"fr\">Today, I am presenting division 6 of part 4 of the bill, which amends the Canada Business Corporations Act, or CBCA, to force corporations to collect and hold information on their effective properties, that is to say the individuals who in the final analysis own and control the enterprises.</p>\n<p data-HoCid=\"5662317\" data-originallang=\"en\"> I'll be speaking about changes to the Canada Business Corporation Act, with a perspective to beneficial ownership and transparency.</p>\n<p data-HoCid=\"5662318\" data-originallang=\"en\">Very quickly, this relates back to a bunch of work we have been doing with the federal, provincial and territorial groups of corporate registries and tax officials, following budget 2017 commitments to increase transparency of beneficial ownership information.</p>\n<p data-HoCid=\"5662319\" data-originallang=\"en\">Budget 2018 codified that, by highlighting the agreement of federal, provincial and territorial finance ministers in December 2017, which committed all provinces, territories and the federal government to increase measures of beneficial ownership transparency by July of 2019. In the first instance, they were to do so by amending their corporate statute to require private corporations to hold beneficial ownership information of those possessing more than 25% or control, in fact, of a private corporation. They were also to do so by binding directors and officers of the corporation to pursue best efforts to assemble that registry, to hold it in their corporate books and to provide penalties in place where that was not followed. </p>\n<p data-HoCid=\"5662320\" data-originallang=\"en\">This is part of our international commitment related to money laundering, tax evasion and terrorist financing. We're doing so, in recognition of the shared jurisdiction that is incorporation in Canada, by working together with our provincial and territorial colleagues to bring these changes into effect.</p>\n<p data-HoCid=\"5662321\" data-originallang=\"en\">With that, I am happy to take any questions. </p>",
        "fr": "<p data-HoCid=\"5662315\" data-originallang=\"fr\"> Je vous remercie, monsieur le pr\u00e9sident. </p>\n<p data-HoCid=\"5662316\" data-originallang=\"fr\">Aujourd'hui, je vous pr\u00e9sente la section 6 de la partie 4 du projet de loi qui modifie la Loi canadienne sur les soci\u00e9t\u00e9s par actions, ou la LCSA, pour obliger les soci\u00e9t\u00e9s priv\u00e9es \u00e0 collecter et de d\u00e9tenir des renseignements sur leurs propri\u00e9t\u00e9s effectives, c'est-\u00e0-dire les particuliers qui, en fin de compte, poss\u00e8dent et contr\u00f4lent les entreprises.</p>\n<p data-HoCid=\"5662317\" data-originallang=\"en\">Je vais parler des changements apport\u00e9s \u00e0 la Loi canadienne sur les soci\u00e9t\u00e9s par actions, dans une perspective de propri\u00e9t\u00e9 effective et de transparence. </p>\n<p data-HoCid=\"5662318\" data-originallang=\"en\">Tr\u00e8s rapidement, cela renvoie \u00e0 un tas de travaux que nous avons faits avec les groupes de registres des soci\u00e9t\u00e9s f\u00e9d\u00e9raux, provinciaux et territoriaux et des agents du fisc, \u00e0 la suite des engagements pris dans le cadre du budget de 2017 pour renforcer la transparence de l'information sur la propri\u00e9t\u00e9 effective. </p>\n<p data-HoCid=\"5662319\" data-originallang=\"en\">Le budget de 2018 a codifi\u00e9 cela, en soulignant l'accord des ministres des Finances des gouvernements f\u00e9d\u00e9ral, provinciaux et territoriaux, en d\u00e9cembre 2017, o\u00f9 les gouvernements de l'ensemble des provinces, des territoires et du pays s'engageaient \u00e0 renforcer les mesures de transparence relatives \u00e0 la propri\u00e9t\u00e9 effective, d'ici \u00e0 juillet 2019. Dans un premier temps, ils allaient modifier leur loi sur les soci\u00e9t\u00e9s, pour exiger que les soci\u00e9t\u00e9s priv\u00e9es d\u00e9tiennent de l'information sur la propri\u00e9t\u00e9 effective des particuliers poss\u00e9dant plus de 25 % ou contr\u00f4lant de fait une soci\u00e9t\u00e9 priv\u00e9e. Ensuite, ils allaient obliger les administrateurs et les dirigeants de la soci\u00e9t\u00e9 \u00e0 maintenir leurs efforts pour cr\u00e9er ce registre, \u00e0 le conserver dans leurs livres d'entreprise et \u00e0 pr\u00e9voir des sanctions en cas de non-respect. </p>\n<p data-HoCid=\"5662320\" data-originallang=\"en\">Cela fait partie de notre engagement international li\u00e9 au blanchiment d'argent, \u00e0 l'\u00e9vasion fiscale et au financement des activit\u00e9s terroristes. Nous y parvenons, en reconnaissance de la comp\u00e9tence partag\u00e9e qu'est la constitution en soci\u00e9t\u00e9s au Canada, en collaborant avec nos coll\u00e8gues provinciaux et territoriaux pour apporter ces changements. </p>\n<p data-HoCid=\"5662321\" data-originallang=\"en\">Je serai maintenant heureux de r\u00e9pondre \u00e0 vos questions. </p>"
    },
    "url": "/committees/finance/42-1/184/mark-schaan-1/",
    "politician_url": null,
    "politician_membership_url": null,
    "procedural": false,
    "source_id": "10355183",
    "document_url": "/committees/finance/42-1/184/",
    "related": {
        "document_speeches_url": "/speeches/?document=%2Fcommittees%2Ffinance%2F42-1%2F184%2F"
    }
}