Bill C-332

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First Reading

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	1st Session, 37th Parliament, 49-50 Elizabeth II, 2001
	House of Commons of Canada
	BILL C-332
	An Act to amend the Special Economic Measures Act
1992, c. 17	Her Majesty, by and with the advice and consent of the Senate and House of Commons of Canada, enacts as follows:
	*1. Subsection 4(1) of the Special Economic Measures Act* is replaced by the following:**
Orders and regulations	4. (1) The Governor in Council may, for the purpose of implementing a decision, resolution or recommendation of an international organization of states or association of states, of which Canada is a member, that calls on its members to take economic measures against a foreign state, or where the Governor in Council is of the opinion that a grave breach of international peace and security has occurred that has resulted or is likely to result in a serious international crisis, or is of the opinion that certain economic or commercial ties between Canada or a Canadian and a foreign state have resulted or are likely to result in a threat to peace or in systematic and gross human rights violations,
	(a) make such orders or regulations with respect to the restriction or prohibition of any of the activities referred to in subsec tion (2) in relation to a foreign state as the Governor in Council considers necessary; and
	(b) by order, cause to be seized, frozen or sequestrated in the manner set out in the order any property situated in Canada that is
	(i) held by or on behalf of a foreign state,
	(ii) held by or on behalf of any person in that foreign state,
	(iii) held by or on behalf of a national of that foreign state who does not ordinarily reside in Canada, or
	(iv) held by a Canadian and acquired in the course of any of the activities de scribed in subsection (2).