18.5.7 FOREIGN CONTROL OF RESIDENTIAL CARE FACILITIES
WHEREAS the federal government was responsible for approving the sale of Retirement Concepts to Anbang Insurance, and
WHEREAS the Chinese government takeover of Anbang Insurance places controlling interest of Retirement Concepts, in the hands of the Chinese government and the Chinese Insurance Regulatory Commission (CIRC), key Chinese financial regulators and government bodies may be making decisions that impact a segment of residential care homes in B C, Alberta, and Quebec,
THEREFORE BE IT RESOLVED that the National Pensioners Federation (NPF) urge the Federal Government to request a full review within the Investment Canada Act of the sale of Retirement Concepts, to Anbang Insurance, and
BE IT FURTHER RESOLVED that the NPF call on the Federal Government to implement a moratorium on contracting out/contract flipping in the broader residential care sector.
Submitted by b c Forum (B C Federation of Retired Union Members)