Proceedings of the Standing Senate Committee on
Banking, Trade and
Commerce
Issue 1 - First Report of the Committee
Tuesday, October 21, 1997
The Standing Senate Committee on Banking, Trade and Commerce has the honour to present its
FIRST REPORT
Your committee, which was authorized by the Senate to incur expenses for the purpose of its examination and consideration of such legislation and other matters as were referred to it, reports, pursuant to rule 104 of the Rules, that the expenses incurred by the Committee during the Second Session on the Thirty-fifth Parliament are as follows:
1. With respect to its examination and consideration of legislation:
Professional and other services $20,509.25
Transportation and
Communication $69,588.58 (including witnesses expenses)
Miscellaneous
$ 3,373.00
TOTAL $93,470.83
2. With respect to its special study on the financial system in Canada authorized by the Senate on Thursday, March 21, 1996:
Professional and other services $14,911.31
Transportation and
Communication $39,545.64 (including witnesses expenses)
Miscellaneous
$ 8,000.00
TOTAL $62,456.95
During the session, your Committee held 49 meetings and submitted 18 reports in relation to its work. Of these, four involved special studies related to the financial system in Canada: one on Crown Financial Institutions, one on Corporate Governance, one on Lowering the Barriers to Foreign Banks and one on Joint and Several Liability and Professional Defendants.
Your Committee also examined 10 bills including C-4, An Act An Act to amend the Standards Council of Canada Act;C-5, An Act to amend the Bankruptcy and Insolvency Act, the Companies' Creditors Arrangement Act and the Income Tax Act; C-15, An Act to amend, enact and repeal certain laws relating to financial institutions; C-19, An Act to implement the Agreement on Internal Trade; C-36, An Act to amend the Income Tax Act, the Excise Act, the Excise Tax Act, the Office of the Superintendent of Financial Institutions Act, the Old Age Security Act and the Canada Shipping Act; C-37, An Act to implement an agreement between Canada and the Russian Federation, a convention between Canada and the Republic of South Africa, an agreement between Canada and the United Republic of Tanzania, an agreement between Canada and the Republic of India and a convention between Canada and Ukraine, for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income; C-70, An Act to amend, the Excise Tax Act, the Federal-Provincial Fiscal Arrangements Act, the Income Tax Act, the Debt Servicing and Reduction Account Act and related Acts; C-82, An Act to amend certain laws relating to financial institutions; C-92, An Act to amend the Income Tax Act, the Income Tax Application Rules and another Act related to the Income Tax Act; and C-93, An Act to implement certain provisions of the budget tabled in Parliament on February 18, 1997.
Respectfully submitted,
MICHAEL KIRBY
Chairman