Angle Up

TI Canada Testifies on Beneficial Ownership to House Standing Committee on Bill C-25

TI Canada representatives testified before the House of Commons Standing Committee on Industry, Science and Technology (INDU). The INDU standing committee will be discussing Bil C-25, An Act to amend the Canada Business Corporations Act, the Canada Cooperatives Act, the Canada Not-for-profit Corporations Act, and the Competition Act (listen to the full meeting here).

Representing TI Canada were President, Paul Lalonde, and Member of TI Canada’s Beneficial Ownership Working Group, Denis Meunier.

In addition to testifying, TI Canada submitted the executive summary of our beneficial ownership and trusts report ‘No Reason to Hide: Unmasking Anonymous Owners of Canadian Companies and Trusts’ and a civil society coalition open letter from December 9 to the Minister of Finance and Minister of Innovation Science and Economice Development. Both documents were submitted in both official languages.

TI Canada also submitted briefing notes, in English and French, outlining the risks to Canada and Canadians posed by the beneficial ownership of companies, and how the federal government can address the problem.

Click here to read TI Canada’s submission to the INDU committee in English Briefing Note

Cliquez ici pour lire la présentation de TI Canada au comité de l’INDU en français Note d’information

TI Canada is making significant progress in raising awareness and advocating for reform on beneficial ownership and trusts. We thank our members for their continued support to TI Canada as we hold the Government of Canada to its G20 2014 commitments on beneficial ownership reform, advocate for the provinces to follow suite, and work to ensure Canada is no longer sold abroad to tax dodgers, kleptocrats, and criminals with ‘snow washing’.