Proceedings of the Standing Senate Committee on
Banking, Trade and
Commerce
Issue 44 - Minutes of Proceedings
OTTAWA, Thursday, February 4, 1999
(88)
[English]
The Standing Senate Committee on Banking, Trade and Commerce met this day, in camera, at 11:00 a.m., in Room 256-S, Centre Block, the Chairman, the Honourable Michael Kirby, presiding.
Members of the committee present: The Honourable Senators Angus, Callbeck, Kelleher, P.C., Kirby, Meighen, Oliver, Stewart and Tkachuk (8).
Other senator present: The Honourable Senator Kroft (1).
In attendance: From the Parliamentary Research Branch, Library of Parliament: Mr. Gerry Goldstein, Director Economics Division and Ms Margaret Smith, Research Officer, Law and Government Division.
The committee discussed its future business.
At 12:15 p.m., the committee adjourned to the call of the Chair.
ATTEST:
OTTAWA, Tuesday, February 9, 1999
(89)
[English]
The Standing Senate Committee on Banking, Trade and Commerce met this day at 9:30 a.m. in Room 505, Victoria Building, the Chairman, the Honourable Michael Kirby, presiding.
Members of the committee present: The Honourable Senators Angus, Callbeck, Di Nino, Hervieux-Payette, P.C., Kelleher, P.C., Kenny, Kirby, Lynch-Staunton, Meighen, Oliver and Stewart (11).
In attendance: From the Parliamentary Research Branch, Library of Parliament: Mr. Gerald Goldstein, Director, Economics and Ms Margaret Smith, Research Officer, Law and Government Division.
APPEARING:
The Honourable Jim Peterson, P.C., M.P., Secretary of State (International Financial Institutions).
WITNESSES:
From the Department of Finance:
Mr. David Tobin, General Director, Financial Sector Policy Branch;
Mr. Charles Seeto, Director, Financial Sector Division;
Mr. Claude Gingras, Special Advisor, Financial Sector Division;
Mr. Gilbert Ménard, Senior Chief, Financial Institutions Section, Business Income Tax Division;
Ms Rhoda Attwood, General Counsel.
From the Office of the Superintendent of Financial Institutions Canada:
Mr. John R. Thompson, Deputy Superintendent, Regulation Sector.
From Insurance Company Executives:
Mr. Dominic D'Alessandro, President and Chief Executive Officer, Manulife;
Mr. Robert Astley, Chief Executive Officer, Mutual Group;
Mr. David A. Nield, Chairman, President and Chief Executive Officer, The Canada Life Assurance Company;
Mr. Don Stewart, President and Chief Executive Officer, Sun Life Assurance Company Canada.
Pursuant to the Order of Reference adopted by the Senate on Thursday, February 4, 1999, the committee proceeded to study Bill C-59, An Act to amend the Insurance Companies Act.
The Honourable Jim Peterson made an opening statement and then, along with officials, answered questions.
Messrs Astley, D'Alessandro, Nield and Stewart each made an opening statement and then, answered questions.
At 11:55 a.m., the committee adjourned to the call of the Chair.
ATTEST:
OTTAWA, Thursday, February 11, 1999
(90)
[English]
The Standing Senate Committee on Banking, Trade and Commerce met this day at 11:00 a.m. in room 505, Victoria Building, the Acting Chairman, the Honourable Jack Austin, P.C., presiding.
Members of the committee present: The Honourable Senators Austin, P.C., Berntson, Callbeck, Chalifoux, DeWare, Ghitter, Hervieux-Payette, P.C., Kenny, Kroft, LeBreton, Lynch-Staunton, Meighen, Poy and Stewart (14).
In attendance: From the Parliamentary Research Branch, Library of Parliament, Ms Margaret Smith, Research Officer, Law and Government Division.
WITNESSES:
Mr. Mark Audcent, Law Clerk and Parliamentary Counsel.
From Action réseau consommateurs and the Regroupement des consommateurs d'assurance:
Mr. Charles Lajoie, Analyst, Action réseau consommateurs;
Mr. Bill Podmore, President, Regroupement des consommateurs d'assurance.
From Canadian Life Insurance Policy Holders Association:
Ms Anne Holmes, Founding Chair;
M. Joel Vale.
From the Department of Finance:
Mr. Charles Seeto, Director, Financial Sector Division;
Mr. Claude Gingras, Special Advisor, Financial Sector Division;
Mr. Gilbert Ménard, Senior Chief, Financial Institutions Section, Business Income Tax Division.
From the Office of the Superintendent of Financial Institutions:
Mr. Michael Hale, Director, Actuarial.
Pursuant to the Order of Reference adopted by the Senate on Thursday, February 4, 1999, the committee proceeded to study Bill C-59, An Act to amend the Insurance Companies Act.
Mr. Audcent answered questions relating to "parchment errors" in Bill C-59.
Mr. Lajoie made an opening statement and then, along with Mr. Podmore, answered questions.
Mr. Vale made an opening statement and then answered questions.
Mr. Seeto made an opening statement and then, along with Mr. Gingras and Mr. Ménard, answered questions.
At 1:40 p.m. the committee adjourned to the call of the Chair.
ATTEST:
Gary Levy
Clerk of the Committee