C-411
First Session, Thirty-ninth Parliament,
55-56 Elizabeth II, 2006-2007
HOUSE OF COMMONS OF CANADA
BILL C-411
An Act to amend the Special Import Measures Act (domestic prices)
first reading, March 2, 2007
Ms. Bourgeois
391493
SUMMARY
This enactment sets out the conditions required for deeming whether domestic prices in a country are substantially determined by the government of that country and there is sufficient reason to believe that they are not substantially the same as they would be if they were determined in a competitive market.
Also available on the Parliament of Canada Web Site at the following address:http://www.parl.gc.ca
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1st Session, 39th Parliament,
55-56 Elizabeth II, 2006-2007
house of commons of canada
BILL C-411
An Act to amend the Special Import Measures Act (domestic prices)
R.S., c. S-15
Her Majesty, by and with the advice and consent of the Senate and the House of Commons of Canada, enacts as follows:
1. (1) Paragraphs 20(1)(a) and (b) of the Special Import Measures Act are replaced by the following:
(a) from a prescribed country where domestic prices are substantially determined by the government of that country and there is sufficient reason to believe that they are not substantially the same as they would be if they were determined in a competitive market, or
(b) from any other country where
(i) the government of that country has, in the opinion of the President, a monopoly or substantial monopoly of its export trade, and
(ii) domestic prices are substantially determined by the government of that country and there is sufficient reason to believe that they are not substantially the same as they would be if they were determined in a competitive market,
(2) Section 20 of the Act is amended by adding the following after subsection (2):
Domestic prices
(3) For the purposes of this section, domestic prices are deemed to be substantially determined by the government of a country and there is sufficient reason to believe that they are not substantially the same as they would be if they were determined in a competitive market if any of the following conditions are not met:
(a) decisions of enterprises regarding prices, inputs — including raw materials, technology and labour — production, sales and investment are substantially made in response to the market, taking into account supply and demand, and without significant state interference, and the costs of major inputs substantially reflect market values;
(b) enterprises have one clear set of basic accounting records that are independently audited in accordance with international accounting standards and are used for all purposes;
(c) the production costs and financial position of enterprises are not subject to significant distortions carried over from the former planned economy system, in particular in relation to depreciation of assets, other write-offs, barter, and payment via compensation of debts;
(d) the enterprises concerned are subject to bankruptcy and property laws that guarantee the legal certainty and stability of their operations; and
(e) foreign currency conversions are carried out at the market rate.
Published under authority of the Speaker of the House of CommonsAvailable from:Publishing and Depository ServicesPublic Works and Government Services Canada