Proceedings of the Standing Senate Committee on
Banking, Trade and
Commerce
Issue 20 - Minutes of Proceedings
OTTAWA, Tuesday, May 26, 1998
(35)
[English]
The Standing Senate Committee on Banking, Trade and Commerce met this day, at 9:40 a.m. in Room 257, East Block, the Chairman, the Honourable Michael Kirby, presiding.
Members of the committee present: The Honourable Senators Angus, Callbeck, Carstairs, Fitzpatrick, Kelleher, P.C., Kirby, Kolber and Stewart (8).
Other Senator present: The Honourable Senator Simard.
In attendance: From the Parliamentary Research Branch, Library of Parliament, Mr. Gerry Goldstein, Director, Economics Division.
Also present: The official reporters of the Senate.
WITNESSES:
From the Department of Finance:
Mr. Leonard L. Farber, Director General, Tax Legislation Division;
Mr. Dan MacIntosh, Legislation Coordinator, Tax Legislation Division;
Mr. Geoff Hughes, Senior Tax Policy Officer;
Mr. Robert Dubrule, Tax Policy Officer, Tax Legislation Division;
Mr. Peter Gusen, Director, Federal-Provincial Relations Division;
Ms Beth Woloski, Senior Economist, Federal-Provincial Relations Division; and
Mr. Marc Cuerrier, Senior Counsel, Tax Counsel Division.
From Mikisew Cree First Nation:
Mr. Ian Taylor, Director of Economic Development; and
Ms Rita Marten, Councillor.
Pursuant to the Order of Reference adopted by the Senate on Tuesday, May 12, 1998, the committee proceeded to study Bill C-28, An Act to amend the Income Tax Act, the Income Tax Application Rules, the Bankruptcy and Insolvency Act, the Canada Pension Plan, the Children's Special Allowances Act, the Companies' Creditors Arrangement Act, the Cultural Property Export and Import Act, the Customs Act, the Customs Tariff, the Employment Insurance Act, the Excise Tax Act, the Federal-Provincial Fiscal Arrangements Act, the Income Tax Conventions Interpretation Act, the Old Age Security Act, the Tax Court of Canada Act, the Tax Rebate Discounting Act, the Unemployment Insurance Act, the Western Grain Transition Payments Act and certain Acts related to the Income Tax Act.
Mr. Farber made an opening statement and along with other officials, answered questions.
Ms Marten made an opening statement and along with Mr. Taylor, answered questions.
At 12:10 p.m. the committee adjourned to the call of the Chair.
ATTEST:
OTTAWA, Thursday, May 28, 1998
(36)
The Standing Senate Committee on Banking, Trade and Commerce met this day at 11:00 a.m. in room 505, Victoria Building, the Deputy Chairman, the Honourable David Tkachuk, presiding.
Members of the committee present: The Honourable Senators Austin, P.C., Callbeck, Kelleher, P.C., Meighen, Oliver, Stewart and Tkachuk (7).
In attendance: From the Parliamentary Research Branch, Library of Parliament, Ms Margaret Smith, Research Officer, Law and Government Division.
Also present: The official reporters of the Senate.
WITNESS:
From LECG, Inc.:
Dr. Lawrence P. Schwartz, Senior Economist.
Pursuant to the Order of Reference adopted by the Senate on Wednesday, October 22, 1997, the committee resumed its examination into the state of the financial system in Canada and in particular its study of institutional investors. (See Issue No. 1, October 23, 1997, for the full text of the Order of Reference .)
Dr. Schwartz made an opening statement and then answered questions.
At 12:00 p.m. the committee adjourned to the call of the Chair.
ATTEST:
Gary Levy
Clerk of the Committee