In a letter received from Jim Flaherty
posted on
Jan 22, 2013 11:28PM
Keep in mind, the opinions on this site are for the most part speculation and are not necessarily the opinions of the company WITHOUT PREJUDICE
One of my numerous responses from letters sent was from Jim Flaherty, Canadas Minister of Finance. In his letter, he outlines that the Government of Canada AND the Provincial Governments share responsibility for securities regulation.
By referencing the " reference re securities Act", supreme court decision in Dec 2011, it states that your elected members of government are responsible and accountable for whats happening with our situation and cannot pass the buck.
As you read below, you can see that our matter infringes upon what I have bolded about where the province cannot take away the power of the federal government when it pertains to something that affects all Canadians. My friends, what is happening with us, DOES affect all Canadians, as it deals with the ludicrousy of an unconstitutional law and rights issue with respect to a democracy, within the markets, to simplify, We voted, 91% in favour of removing the current BOD, yet they are still there. This is definitely not integrity in the markets and is a federal issue also, if the securities do not act, the federal government will be compelled to.
An excerpt taken from that court decision;
http://canlii.ca/en/ca/scc/doc/2011/2011scc66/2011scc66.html
"Parliament’s power over the regulation of trade and commerce under s. 91(2) of the Constitution Act, 1867 has two branches — the power over interprovincial commerce and the general trade and commerce power. Only the general trade and commerce power is invoked by Canada in this reference. This power, while on its face broad, is necessarily circumscribed. It cannot be used in a way that denies the provincial legislatures the power to regulate local matters and industries within their boundaries. Nor can the power of the provinces to regulate property and civil rights within the provinces deprive the federal Parliament of its powers under s. 91(2) to legislate on matters of genuine national importance and scope — matters that transcend the local and concern Canada as a whole."
2. | The Regulation of Trade and Commerce. |
All of the above is in my opinion, but with a little bit of research, I am comfortable that you will arrive at the same conclusion and interpretation.