...actually - this is NOT accurate. HC is NOT asking for someone to submit eliquid for testing in order to regulate it - they are asking for eliquid to be placed under a different set of laws - with the knowledge that no eliquid company or ecig manufacturer will ever be able to meet their requirements.
Again, I'm going to assume that you didn't read the posts following this one in the thread, but just in case, let me be perfectly clear... I'm pretty sure we're agreeing here.

I am saying that it is HC's claim that the "e-cig CONTAINING nicotine" is regulated as a New Drug under Division 8, Part C of the Food and Drug Regulations, and furthermore that "the delivery system within an electronic smoking kit that contains nicotine" would be considered the Medical Device.
We have different info here on the Schedule/Division of the Regulations. Schedule F Drugs include nicotine inhaled in doses of 4mg or less. A New Drug, in this instance, is a drug (nicotine) that "has not been sold for that use or condition of use"... which is what they are saying with the bunk about the differing methods of inhalation and absorption between the e-cig and approved Inhalers. Bottom line is still the same though...
I also stated "HC's stance is that it is up to the sponsor or manufacturer of the device to provide the proof. They do not conduct trials or studies. All of the exempted NRTs have been approved because the studies were done, "proof" submitted, assessed and approved. This is extremely costly, but Big Pharma will pay for it. Most e-cig manufacturers (or distributors) either won't, or do not have the cash to pony up." (For these purposes, where I said "device" read: "e-cig CONTAINING nicotine")Pharmaceuticals fall under an entirely different set of regulations and laws. New pharmas can only be submitted for testing by licensed, regulated laboratory's - and only after initial studies show possible therapeutic effectiveness in medical treatment. It's a very long process that can take years - even decades in some cases.
I also agree with everything else you mentioned re: FDA. I was actually living in the US during part of the that whole debacle, and kept a close eye on the proceedings. (Including reading every one of the thousand pages is the epic thread on the topic...)
One of the problems we are facing is that HC has already decided the "device" is a New Drug. This means it falls under the Food and Drugs Regulations. What we want is for it to be regulated by the Tobacco Control Act. So basically, the same crap they went through (and still are) in the US, but they're a few steps ahead of us.
Or they could just leave us to vape in peace... but that's not gonna happen.