In some cases companies have set up subsidiary organizations to whom they sell their products, and taxes are paid on values lower than the fair market price. The present section is designed to protect our revenues against this.
Before we go on with this bill, might I suggest to the minister that the ex-Minister of Finance, the hon. member for AArest Calgary (Mr. Bennett) is not present. I have no particular objection to this bill going on provided that -we report progress on the last clause and, if necessary, allow any discussion on the last clause when the bill comes before the committee again. AA ill that be satisfactory?
Hon. P. J. A. CARDIN (Minister of Marine and Fisheries) moved the second reading of Bill No. 22.5, respecting the Halifax Harbour Commissioners.
Motion agreed to, bill read the second time and the House went into committee thereon, Mr. Johnston in the chair.
On section 1.
They are exactly the same except that in the case of St. John, the harbour was under the control of the city, was city property, and we had to assume certain obligations of the city of St. John. That was not the case in Halifax. That is the only difference.
bill, as in the other one, we are granting certain borrowing powers. Does that mean that the commission will have power to float bonds and debentures, or will they have to come to this House just like the other commissions when they want to borrow money?
It is to give the governor in council an opportunity of looking over the proposed borrowings, and probably to keep the commissioners from landing into the mess the Vancouver harbour commissioners got into?