Hon. Lionel Chevrier (Minister of Transport) moved
for leave to introduce Bill No. 216, to encourage the construction and conversion of vessels in Canada.
He said: Mr. Speaker, the object of this bill is to encourage the construction and conversion of vessels in Canada. The assistance will take the form of accelerated depreciation. Owners who construct or convert vessels in Canadian yards will be entitled to write off their ships in three years if they so wish. The vessels to which the legislation will apply are those as defined in the Canada Shipping Act.
Subtopic: CONSTRUCTION AND CONVERSION OF VESSELS
Sub-subtopic: ACCELERATED DEPRECIATION