December 18, 1962 (25th Parliament, 1st Session)


Thomas Rodney Berger

New Democratic Party

Mr. Berger:

I think all members of the committee have some knowledge of the purpose of the bill which is, as I understand it, to give to the Merit Life Insurance Company the right to use a French version of its name. In my view, before the House of Commons passes this bill-though I understand that in the past bills of this nature have gone through as a matter of course-we should know something about the company which is seeking to have the right to use a French version of its name. I think the committee is entitled to know who owns the company and who controls the company. We in Canada have seen more and more of our industries, our resources and, in fact, even our savings drifting away from Canadian control. At some time during the debate on clause 1 of the bill I should like to see the hon. member who sponsored the bill rise and tell the committee who controls this company. My information is that the Merit Life Insurance Company is connected with the Industrial Acceptance Corporation and that in fact it is controlled by the Industrial Acceptance Corporation. May I say that it is a large investment corporation which is under the control of the Murchison brothers of Texas-

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