John McKay Tables New Private Members Bill Called The Sunshine Bill

February-26-13

For Immediate Release
Tuesday February 26th, 2013

Liberal John McKay tables Private Member’s Bill to enhance financial transparency, accountability and long-term economic sustainability in the extractive industry.


OTTAWA – Liberal Hon. John McKay, P.C., M.P. tabled today a Private Member’s Bill entitled An Act respecting the promotion of financial transparency, improved accountability, and long-term economic sustainability through public reporting of payments made by mining, oil and gas corporations to foreign governments, also known as The Sunshine Bill.

Modeled after the Cardin Luger amendment to the Dodd-Frank Bill passed by United States Congress on 2008/2009, the Bill attempts to close a loop-hole in the international effort to disclose payments made by the extractive industry to foreign entities in order to secure mining concessions. The European Union, United Kingdom and Australia have joined the United States in this international effort to combat bribery and corruption.

“Disclosure is good for investors, management, Non-Government Organizations, Indigenous Peoples and Canada’s international reputation.”

Sunshine sheds light on all transactions, but it also acts as a disinfectant to odious practices.


Hon. John McKay, P.C., M.P.
Scarborough-Guildwood

Contact (Parliamentary Office): (613) 992.1447 / mckayj@parl.gc.ca