Canadian Government's Cannabis Legislation Challenged by Opposition

- April 21st, 2017

The Federal government announced April 13 its plans to legalize marijuana by July 1, 2018, but the Conservative Party and NDP are looking for answers regarding some of the legislations.

There’s always plenty to talk about in the cannabis space–even more so now that the Canadian government officially unveiled its plans to legalize it by July 1, 2018.
Still–it’s not all buds and roses, at least not right now, as the Federal government’s opposition–the Conservatives and even the NDP–have posed questions regarding some of the legislations the government is seeking.
As reported by the Financial Post, the government is seeking to put in place a marijuana tracking system that will gather information about the product from licensed producers, distributors and retailers. The publication further states that Health Canada said the system won’t track individual cannabis users, but will permit businesses and regulators to trace products and address recalls.
In a statement, Health Canada said specifics of the system still need to be worked out, but that similar ones have been put in place in the US for getting information on marijuana products.
“Mandatory product track-and-trace systems are common features in other jurisdictions that have legalized cannabis for non-medical purposes,” the department said. Health Canada added no cost for the proposed tracking system has been decided on, at least not yet, just the intention that the costs will be offset by licensing and other fees.
This is where the Conservative party is critical–and the NDP.

Find out what experts are saying about the future of cannabis

Read our new report today

“They want to put a pot registry in, but they are not telling us about how much it is going to cost,” Conservative health critic Colin Carrie was quoted as saying by CTV News. “It is just basically more shady behaviour when it comes to this file.”
Alistair MacGregor, the NDP justice critic, was “surprised” the government hasn’t offered more information.
“On the day this bill was announced, they did bring out the minister of national revenue,” MacGregor was quoted as saying. “One of the biggest questions we have is the cost of implementing not just this registry but all of the enforcement measures; How much of this is going to be downloaded on to the provinces?”
Following the Conservative party and NDP’s critics, a number of cannabis stocks have fluctuated in terms of price: shares of top seed, Canopy Growth (TSX:WEED), have seen a 0 percent increase and remain at $9.87; Aurora Cannabis (TSXV:ACB) are up 1.1 percent to $2.76; Maple Leaf Green World is up 1.69 percent to $0.60, while InvictusMD (TSXV:IMH) is down 2.9 percent to $2.01.
Don’t forget to follow us @INN_Resource for real-time news updates.
Securities Disclosure: I, Jocelyn Aspa, hold no direct investment interest in any company mentioned in this article. 
Editorial Disclosure: Maple Leaf Green World and InvictusMD are clients of the Investing News Network. This article is not paid for content.

Keep up with major deals and investment opportunities in marijuana

Learn to profit from cannabis companies

Get the latest Cannabis Investing stock information

Get the latest information about companies associated with Cannabis Investing Delivered directly to your inbox.

Cannabis Investing

Select All
Select None

Leave a Reply

Your email address will not be published. Required fields are marked *