Bill C-474: Transparency In The Mining Industry

In collaboration with Victoria Cohene

Overview of Bill C-474

In the first quarter of 2013, Liberal MP John McKay sponsored the first reading of Bill C-474 in Canada's Parliament which, according to him, is meant to fight corruption, encourage transparency and promote increased accountability within mining corporations. Referred to as the "Sunshine Bill", McKay explains that its purpose is, "to shine light on the whole business of murky payments that go on in some transactions with respect to the obtaining and retaining of mining licenses".

In accordance with Bill C-474, corporations engaging in the development of oil, natural gas or minerals would be required to submit an annual transparency report to both the Minister of Foreign Affairs and the Minister of Natural Resources. The report must disclose all payments made by the corporation to a foreign government for the purpose of furthering mining, oil or gas industry activities. This information must be independe