Bill C-385

1st Session, 41st Parliament,

60 Elizabeth II, 2011

house of commons of canada

BILL C-385

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

(a) a uranium mine is being developed or operated; or

(b) a uranium claim has been staked in accordance with the laws of a province.

“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 the owner or owners of a mining property enter into a transaction that would result in majority ownership of the mining property by one or more non-residents, the owner or owners must apply to the Minister, in the prescribed form and manner, for approval of the transaction.

4. The Minister must 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 unless it has been approved by the Minister under section 4.

6. The Government of Canada may 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.