Proceedings of the Standing Senate Committee on
Banking, Trade and Commerce

Issue 16 - Minutes of Proceedings


OTTAWA, Tuesday, December 10, 1996
(31)

[English]

The Standing Senate Committee on Banking, Trade and Commerce met this day at 10:05 a.m. in room 505, Victoria Building, the Chairman, the Honourable Michael Kirby, presiding.

Members of the committee present: The Honourable Senators Angus, Austin, P.C., Hervieux-Payette, P.C., Kelleher, P.C., Kenny, Kirby, Meighen, Oliver, St. Germain, P.C. and Stewart. (10)

In attendance: From the Research Branch of the Library of Parliament, Mr. Gerald Goldstein, Director, Economics Division and Ms Margaret Smith, Research Officer, Law and Government Division.

Also present: The official reporters of the Senate.

WITNESSES:

From the Department of Industry:

Mr. David Tobin, Director General, Corporate Governance Branch;

Mr. Marc Mayrand, Superintendent of Bankruptcy;

Mr. Jacques Hains, Director, Corporate Law Policy Directorate;

Mr. Gordon Marantz, Legal Advisor to the Department; and

Mr. Max Mendelsohn, Legal Advisor to the Department.

Pursuant to the Order of Reference adopted by the Senate on Thursday, October 31, 1996, the committee considered Bill C-5, An Act to amend the Bankruptcy and Insolvency Act, the Companies' Creditors Arrangement Act and the Income Tax Act.

Mr. Hains made an opening statement and then, along with the other witnesses, answered questions.

At 11:55 a.m., the committee adjourned to the call of the Chair.

ATTEST:


OTTAWA, Thursday, December 12, 1996
(32)

[English]

The Standing Senate Committee on Banking, Trade and Commerce met this day, in camera, at 11:10 a.m. in room 505, Victoria Building, the Chairman, the Honourable Michael Kirby, presiding.

Members of the committee present: The Honourable Senators Angus, Austin, P.C., Kelleher, P.C., Kenny, Kirby, Meighen, Oliver and Stewart. (8)

Other senator present: The Honourable Senator Taylor.

In attendance: From the Research Branch of the Library of Parliament, Mr. Gerald Goldstein, Director, Economics Division and Ms Margaret Smith, Research Officer, Law and Government Division.

Also present: The official reporters of the Senate.

Pursuant to the Order of Reference adopted by the Senate on Thursday, October 31, 1996, the committee considered Bill C-5, An Act to amend the Bankruptcy and Insolvency Act, the Companies' Creditors Arrangement Act and the Income Tax Act.

The committee also considered a draft interim report on the question of professional liability and agreed to present it to the Chamber.

It was agreed as well to hold hearings during the weeks of February 10th and 17th on the governance of institutional investors and in March to begin a comparative study of financial regulatory regimes.

At 1:05 p.m., the committee adjourned to the call of the Chair.

ATTEST:

Paul Benoit

Clerk of the Committee


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