July 4, 1972 (28th Parliament, 4th Session)

NDP

Max Saltsman

New Democratic Party

Mr. Max Saltsman (Waterloo):

Mr. Speaker, while I would like to accommodate the hon. member for Halifax-East Hants (Mr. McCleave) on his amendments, I have some reservations. I am sorry that he did not take a little more time to be specific on how his amendments would work. I am concerned that in trying to correct some difficulties that occur in a leasing operation, his amendments would provide a large opening to nullify certain provisions of the bill. They might lead to a situation in which businesses, instead of being purchased, would be leased out in order to evade provisions of the bill.
There is a growing tendency for ownership to be somewhat meaningless and for the operation and command of resources to be more important. Many companies are switching to long-term leasing arrangements rather than direct ownership. I am concerned that these amendments would enable such a loophole to appear and in effect would nullify what the rest of the bill is trying to do. Unless the hon. member can persuade me to the contrary, I do not see how we can support his amendments.

Topic:   GOVERNMENT ORDERS
Subtopic:   FOREIGN TAKEOVERS REVIEW ACT
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