Federal Budget Bill C-45 Passes in the House of Commons

Further to Davis LLP's earlier blog, the second of two omnibus federal budget bills has undergone its  third parliamentary reading and was passed in the House of Commons on December 5, 2012 and is now before the Senate. Described by Government as an implementation tool, the Bill (C-45), will  amend and repeal parts of various enactments to further the key initiatives of Canada's Economic Action Plan 2012 (the "Action Plan"). In particular the initative to complete the regulatory regime required for Responsible Resource Development defined as  "the Government of Canada's plan to create jobs, growth, and long-term prosperity for all Canadians by streamlining the review process for major resource projects" and further described here. Responsible Resource Development is one of several categories proposed in the Action Plan designed to improve business investment in Canada. Other categories include: investing in natural resources; expanding trade and operating in new