May 23, 1941

NAT

Ernest Edward Perley

National Government

Mr. PERLEY:

All I wish to know is, when all these resolutions are carried, may I ask a question with reference to the appendix?

Topic:   SPECIAL WAR REVENUE ACT
Permalink
LIB

James Lorimer Ilsley (Minister of Finance and Receiver General)

Liberal

Mr. ILSLEY:

I do not know. That will have to be considered' when we reach it. It cannot come up now.

Topic:   SPECIAL WAR REVENUE ACT
Permalink

Resolution agreed to. 1. That the definition of "British company" in section thirteen of the said act be amended by deleting therefrom the following words "and includes any association of persons formed in the said kingdom or in any such dominion or possession on the plan known as Lloyds whereby each associate underwriter becomes liable for a stated, limited or proportionate part of the whole amount insured by a policy."


?

Frederick Clayton Casselman

Mr. CASSELMAN:

What is the effect of

this?

Topic:   SPECIAL WAR REVENUE ACT
Permalink
LIB

James Lorimer Ilsley (Minister of Finance and Receiver General)

Liberal

Mr. ILSLEY:

Resolutions 1 and 2 must be considered together. Resolution 2 is the important one. Under resolution 16 of the Special War Revenue Act it is provided that there shall be a tax of ten per cent upon premiums paid to British or foreign insurance companies doing business in Canada, unless they are authorized to do business here either by the dominion or by a province. The Foreign Insurance Companies Act provides that a foreign insurance company shall not do business in Canada without being authorized so to do by the dominion, and resolution 16 of the Special War Revenue Act is merely supplementary to the provision of the Foreign Insurance Companies Act to which I have referred. I think it is fair to say that it is a means of control rather than a revenue measure, although perhaps that might be disputed in the courts, and I would not make any authoritative statement on the point. In order, however, to make resolution 16 of the Special War Revenue Act accord with the whole principle on which the Foreign Insurance Companies Act is founded, it is necessary to delete the words "or of any province thereof", so that a foreign insurance company must get the authorization of the dominion to do business in Canada, and if it does not do so, it will be subject to a ten per cent tax upon its premiums. That is the effect of resolution 2. The effect of resolution 1 is to ensure that the status of Lloyds remains exactly as it is, that Lloyds is not affected by that change.

Topic:   SPECIAL WAR REVENUE ACT
Permalink
NAT

Grote Stirling

National Government

Mr. STIRLING:

As I understand it, the minister asked on May 20 that these two resolutions should stand because he desired to give further consideration to representations which had been made.

Topic:   SPECIAL WAR REVENUE ACT
Permalink
LIB

James Lorimer Ilsley (Minister of Finance and Receiver General)

Liberal

Mr. ILSLEY:

Yes.

3.092

Special War Revenue Act

Topic:   SPECIAL WAR REVENUE ACT
Permalink
NAT
LIB
NAT

Grote Stirling

National Government

Mr. STIRLING:

Therefore the minister has considered those representations and has not seen fit to change the resolutions?

Topic:   SPECIAL WAR REVENUE ACT
Permalink
LIB

Resolution agreed to. 2. That subsection one of section sixteen of the said act be amended by deleting the words "or of any province thereof" where they appear in the fourteenth line thereof. Resolution agreed to. Resolutions reported, read the second time and concurred in.


NAT

Ernest Edward Perley

National Government

Mr. PERLEY:

Will the minister now consider allowing a question on the appendix to the budget?

Topic:   SPECIAL WAR REVENUE ACT
Permalink
LIB

James Lorimer Ilsley (Minister of Finance and Receiver General)

Liberal

Mr. ILSLEY:

Mr. Speaker, it is not in order.

Topic:   SPECIAL WAR REVENUE ACT
Permalink
NAT

EXCISE ACT


Mr. ILSLEY moved for leave to introduce Bill No. 75, to amend the Excise Act, 1934. Motion agreed to and bill read the first time.


WAR EXCHANGE CONSERVATION ACT


Hon. J. L. ILSLEY (Minister of Finance) moved for leave to introduce Bill No. 77, to amend the War Exchange Conservation Act, 1940. Motion agreed to and bill read the first time.


CUSTOMS TARIFF

May 23, 1941