Bill C-436

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

1. This Act may be cited as the Uranium Mine Ownership Act.

INTERPRETATION

2. The following definitions apply in this Act.

“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” means the Minister of National Defence.

“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” means prescribed by regulations made under this Act.

GENERAL

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.

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.

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.

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

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.