C-436
Second Session, Fortieth Parliament,
57-58 Elizabeth II, 2009
HOUSE OF COMMONS OF CANADA
BILL C-436
An Act respecting ownership of uranium mines in Canada
first reading, September 16, 2009
Mr. Trost
402331
SUMMARY
This enactment provides that any transaction that would result in majority ownership by non-residents of a uranium mining property in Canada must be approved by the Minister of National Defence.
Also available on the Parliament of Canada Web Site at the following address:http://www.parl.gc.ca
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2nd Session, 40th Parliament,
57-58 Elizabeth II, 2009
house of commons of canada
BILL C-436
An Act respecting ownership of uranium mines in Canada
Her Majesty, by and with the advice and consent of the Senate and House of Commons of Canada, enacts as follows:
SHORT TITLE
Short title
1. This Act may be cited as the Uranium Mine Ownership Act.
INTERPRETATION
Interpretation
2. The following definitions apply in this Act.
“mining property”« bien minier »
“mining property” means real property or an immovable in Canada on which mining for uranium is taking place or is intended to take place.
“Minister”« ministre »
“Minister” means the Minister of National Defence.
“non-resident”« non-résident »
“non-resident” means
(a) an individual, other than a Canadian citizen, who is not ordinarily resident in Canada;
(b) a corporation incorporated, formed or otherwise organized outside Canada;
(c) a foreign government or an agency thereof; or
(d) a corporation controlled by non-residents as defined in any of paragraphs (a) to (c).
“prescribed” Version anglaise seulement
“prescribed” means prescribed by regulations made under this Act.
GENERAL
Application
3. Before any person enters into a transaction that would result in majority ownership of a mining property by one or more non-residents, the person shall apply to the Minister, in the prescribed form and manner, for approval of the transaction.
Approval
4. The Minister shall approve a transaction described in section 3 if, in the opinion of the Minister, majority ownership of the mining property by non-residents would not pose a risk to national security.
Transaction of no effect
5. Any transaction that results in majority ownership of a mining property by one or more non-residents is void and of no effect unless it has been approved by the Minister under section 4.
No additional restrictions
6. The Government of Canada shall not impose any other restrictions that apply specif- ically to the ownership of mining properties by non-residents beyond those that are set out in this Act.
REGULATIONS
Regulations
7. The Governor in Council may make regulations respecting applications made under section 3 and generally to carry out the purposes and provisions of this Act.
Published under authority of the Speaker of the House of CommonsAvailable from:Publishing and Depository ServicesPublic Works and Government Services Canada