May 30, 1941 (19th Parliament, 2nd Session)

LIB

James Lorimer Ilsley (Minister of Finance and Receiver General)

Liberal

Mr. ILSLEY:

That is covered by statute. Section 10 of the War Exchange Conservation Act provides that the act shall expire on the date of the issue of a proclamation under the War Measures Act declaring that a state of war no longer exists, or on such earlier date as may be fixed in a proclamation of the governor in council.
With regard to the moving of factories to Canada, I understand that the export of capital is not permitted by the foreign exchange control board; and I doubt whether we should attempt to take advantage of the situation in England by seeking the transfer of these industries permanently from Britain to Canada.

Topic:   WAR EXCHANGE CONSERVATION ACT
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