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NDP lLader Jack Layton makes his way to a news conference in Ottawa on Oct. 29, 2010.Adrian Wyld/The Canadian Press

The House of Commons will debate measures to update Canada's foreign-takeover rules all day Thursday, regardless of what the Conservative government decides Wednesday in reviewing BHP Billiton's proposed hostile bid for Saskatchewan's Potash Corp.

Thanks to a bit of Parliamentary luck, the NDP has a rare opposition day on Thursday in which it can set the agenda and put forward a motion of its choosing. Jack Layton, whose party is hoping to gain politically in Saskatchewan because of the controversy, will use the day to call for legislative changes to the Investment Canada Act.

The NDP motion calls for four key changes to the legislation, including:

» making public hearings a mandatory part of a foreign investment review;

» ensuring those affected by the takeover can call expert witnesses to speak at these hearings;

» ensuring all conditions attached to the approval of a takeover are made public and are subject to monitoring and possible penalties;

» stating clearly that the goal of the Act is to encourage new capital, create new jobs and bring in new technology to Canada and "not foreign investment motivated simply by a desire to gain control of a strategic Canadian resource."

The motion also asks the House of Commons to express its opposition to the takeover of Potash Corp by Australia-based BHP.

"We have had some indication from some of the other parties, not yet the government, that they find our proposal to improve the Investment Canada act ... is a supportable idea and we wait for the government to come to its senses and understand that Canadians want to have some level of control over their key industries and resources," Mr. Layton told reporters on Parliament Hill Wednesday.

The Bloc Québécois has yet to publicly declare its position for the NDP motion, however a Liberal official said the Liberals will support it. A motion of this type is not legally binding on the government.

In the House of Commons Wednesday, the looming Potash decision dominated questions from the opposition.

Prime Minister Stephen Harper brushed off criticism from Michael Ignatieff by stating that the Liberals "rubber-stamped every single transaction for 13 years" while in power.

"Obviously there are very passionate views from many quarters on this," Mr. Harper said. "I'm perfectly confident that the minister [of Industry]will reach a decision that is in the best interests of Canada."

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