Proceedings of the Standing Senate Committee on
Banking, Trade and Commerce
Issue 9 - Third, Fourth and Fifth Reports of the Committee
Monday, December 9, 2002
The Standing Senate Committee on Banking, Trade and Commerce has the honour to present its
THIRD REPORT
Your Committee, which was authorized by the Senate on Wednesday, October 23, 2002, to examine and report upon the present state of the domestic and international financial system, respectfully requests that it be empowered to engage the services of such counsel and technical, clerical and other personnel as may be necessary, and to adjourn from place to place within Canada and to travel inside and outside Canada, for the purpose of such study.
Pursuant to Section 2:07 of the Procedural Guidelines for the Financial Operation of Senate Committees, the budget submitted to the Standing Committee on Internal Economy, Budgets and Administration and the report thereon of that Committee are appended to this report.
Respectfully submitted,
E. LEO KOLBER
Chair
STANDING SENATE COMMITTEE ON BANKING, TRADE AND COMMERCE
SPECIAL STUDY — FINANCIAL SYSTEM
APPLICATION FOR BUDGET AUTHORIZATION
FOR THE FISCAL YEAR ENDING MARCH 31, 2003
Extract from the of Journals of the Senate of October 23, 2002:
The Honourable Senator Kolber moved, seconded by the Honourable Senator Maheu:
That the Standing Senate Committee on Banking, Trade and Commerce be authorized to examine and report upon the present state of the domestic and international financial system;
That the papers and evidence received and taken on the subject during the First Session of the Thirty-seventh Parliament and any other relevant Parliamentary papers and evidence on the said subject be referred to the Committee;
That the Committee be empowered to permit coverage by electronic media of its public proceedings with the least possible disruption of its hearings;
That, notwithstanding usual practices, the Committee be permitted to deposit an interim report on the said subject with the Clerk of the Senate, if the Senate is not sitting, and that the said report shall thereupon be deemed to have been tabled in the Chamber; and
That the Committee submit its final report no later than June 19, 2003.
After debate,
With leave of the Senate and pursuant to Rule 30, the motion was modified to read as follows:That the Standing Senate Committee on Banking, Trade and Commerce be authorized to examine and report upon the present state of the domestic and international financial system;
That the papers and evidence received and taken on the subject during the First Session of the Thirty-seventh Parliament and any other relevant Parliamentary papers and evidence on the said subject be referred to the Committee;
That the Committee be empowered to permit coverage by electronic media of its public proceedings with the least possible disruption of its hearings; and
That the Committee submit its final report no later than June 19, 2003.
The question being put on the motion, as modified, it was adopted.
Paul C. Bélisle
Clerk of the Senate
Summary of expenditures
|
Professional & Other Services |
$ 93,000 |
|
Transportation and communications |
$ 92,000 |
|
Other Expenditures |
$ 10,000 |
|
Total |
$ 195,000 |
The Standing Committee on Banking, Trade and Commerce approved the above budget on _______________
The undersigned or an alternate will be in attendance on the date that this Budget is considered.
______________
_______________________________________________________________________
Date
Chair, Standing Senate Committee on Banking, Trade and Commerce
______________
_______________________________________________________________________
Date
Chairman, Standing Senate Committee on Internal Economy,
Budgets and Administration
EXPLANATION OF BUDGET ITEMS
PROFESSIONAL AND SPECIAL SERVICES
|
1. Expert consultants |
$ 25,000 |
|
2. Communication consultants |
$ 65,000 |
|
3. Working Meals (0415) |
$ 3,000 |
|
Subtotal |
$ 93,000 |
TRANSPORTATION AND COMMUNICATIONS
1. Travel Expenses (0203)
A. New York- Washington18 participants (12 Senators, 4 staff)
|
Air transportation: |
$ 48,000 |
|
Ground transportation: |
$ 3,200 |
|
Per diem & incidentals: |
$ 6,400 |
|
Interpretation: |
$ 3,750 |
|
Hotel accommodation: |
$ 21,600 |
|
Contingencies |
$ 2,050 |
|
Subtotal |
$ 85,000 |
2. Work on behalf of the Committee
(Participation at conferences, special study relating to legislation, etc)
|
Air transportation |
$ 5,000 |
|
Ground transportation |
$ 500 |
|
Hotel |
$ 1,200 |
|
Per diem |
$ 300 |
|
Subtotal |
$ 7,000 |
ALL OTHER EXPENDITURES
|
1. Miscellaneous expenses (0799) |
$ 1,000 |
|
2. Purchase of books and periodicals |
$ 7,000 |
|
3. Hospitality |
$ 2,000 |
|
Subtotal |
$ 10,000 |
TOTAL $ 195,000
The Senate Administration has reviewed this budget application.
______________________________________________
______________
Heather Lank
Date
Director of Committees and Private Legislation
______________________________________________
______________
Richard Ranger
Date
Director of Finance
APPENDIX (B) TO THE REPORT
Thursday, December 5, 2002
The Standing Committee on Internal Economy, Budgets and Administration has examined the budget presented to it by the Standing Senate Committee on Banking, Trade and Commerce for the proposed expenditures of the said Committee for the fiscal year ending March 31, 2003 for the purpose of its Special Study on the present state of the domestic and international financial system, as authorized by the Senate on Wednesday, October 23, 2002. The approved budget is as follows:
|
Professional and Other Services |
$ 60,000 |
|
Transportation and Communications |
$ 42,500 |
|
Other Expenditures |
$ 10,000 |
|
Total |
$ 112,500 |
Respectfully submitted,
LISE BACON
Chair
Monday, December 9, 2002
The Standing Senate Committee on Banking, Trade and Commerce has the honour to present its
FOURTH REPORT
Your Committee, which was authorized by the Senate on Tuesday, October 29, 2002, to examine and report on the administration and operation of the Bankruptcy and Insolvency Act and the Companies' Creditors Arrangement Act; respectfully requests that it be empowered to engage the services of such counsel and technical, clerical and other personnel, as may be necessary, for the purpose of such study.
Pursuant to Section 2:07 of the Procedural Guidelines for the Financial Operation of Senate Committees, the budget submitted to the Standing Committee on Internal Economy, Budgets and Administration and the report thereon of that Committee are appended to this report.
Respectfully submitted,
E. LEO KOLBER
Chair
STANDING SENATE COMMITTEE ON BANKING, TRADE AND COMMERCE
SPECIAL STUDY — BANKRUPTCY AND INSOLVENCY
APPLICATION FOR BUDGET AUTHORIZATION
FOR THE FISCAL YEAR ENDING MARCH 31, 2003
Extract from the of Journals of the Senate of October 29, 2002:
The Honourable Senator Kolber moved, seconded by the Honourable Senator Bacon:
That in accordance with the provisions contained in section 216 of the Bankruptcy and Insolvency Act and in section 22 of the Companies' Creditors Arrangement Act, the Standing Senate Committee on Banking, Trade and Commerce be authorized to examine and report on the administration and operation of the Bankruptcy and Insolvency Act and the Companies' Creditors Arrangement Act; and
That the Committee submit its final report no later than June 19, 2003.
The question being put on the motion, it was adopted.
Paul C. Bélisle
Clerk of the Senate
Summary of expenditures
|
Professional & Other Services |
$ 8,000 |
|
Transportation and communications |
$ 0 |
|
Other Expenditures |
$ 2,000 |
|
TOTAL |
$ 10,000 |
The Standing Committee on Banking, Trade and Commerce approved the above budget on ______________
The undersigned or an alternate will be in attendance on the date that this Budget is considered.
______________
_______________________________________________________________________
Date
Chair, Standing Senate Committee on Banking, Trade and Commerce
______________
_______________________________________________________________________
Date
Chairman, Standing Senate Committee on Internal Economy,
Budgets and Administration
EXPLANATION OF BUDGET ITEMS
PROFESSIONAL AND SPECIAL SERVICES
|
1. Expert consultants |
$ 5,000 |
|
2. Working Meals
Working lunches and dinners |
$ 3,000 |
|
Subtotal |
$ 8,000 |
ALL OTHER EXPENDITURES
|
1. Miscellaneous expenses |
$ 2,000 |
|
Subtotal |
$ 2,000 |
TOTAL $ 10,000
The Senate Administration has reviewed this budget application.
______________________________________________
______________
Heather Lank
Date
Director of Committees and Private Legislation
______________________________________________
______________
Richard Ranger
Date
Director of Finance
APPENDIX (B) TO THE REPORT
Thursday, December 5, 2002
The Standing Committee on Internal Economy, Budgets and Administration has examined the budget presented to it by the Standing Senate Committee on Banking, Trade and Commerce for the proposed expenditures of the said Committee for the fiscal year ending March 31, 2003 for the purpose of its Special Study on the administration and operation of the Bankruptcy and Insolvency Act and the Companies' Creditors Arrangement Act, as authorized by the Senate on Tuesday, October 29, 2002. The said budget is as follows:
|
Professional and Other Services |
$ 8,000 |
|
Transportation and Communications |
$ 0 |
|
Other Expenditures |
$ 2,000 |
|
Total |
$ 10,000 |
Respectfully submitted,
LISE BACON
Chair
Monday, December 9, 2002
The Standing Senate Committee on Banking, Trade and Commerce has the honour to present its
FIFTH REPORT
Your Committee, which was authorized by the Senate on Tuesday, October 29, 2002, to examine and report on the public interest implications for large bank mergers, respectfully requests that it be empowered to engage the services of such counsel and technical, clerical and other personnel, as may be necessary, for the purpose of such study.
Pursuant to Section 2:07 of the Procedural Guidelines for the Financial Operation of Senate Committees, the budget submitted to the Standing Committee on Internal Economy, Budgets and Administration and the report thereon of that Committee are appended to this report.
Respectfully submitted,
E. LEO KOLBER
Chair
STANDING SENATE COMMITTEE ON BANKING, TRADE AND COMMERCE
SPECIAL STUDY — BANK MERGERS
APPLICATION FOR BUDGET AUTHORIZATION
FOR THE FISCAL YEAR ENDING MARCH 31, 2003
Extract from the of Journals of the Senate of October 29, 2002:
Resuming debate on the motion of the Honourable Senator Kolber, seconded by the Honourable Senator Maheu:
That the Standing Senate Committee on Banking, Trade and Commerce be authorized to study the public interest implications for large bank mergers on:
- Access for Canadians throughout the country to convenient and quality financial services;
- The availability of financing for individuals and businesses, particularly small and mid- sized businesses;
- The Canadian economy and the ability of Canadian business to compete internationally;
- Communities and bank employees; and
- Any other related issues;
That the Committee be empowered to permit coverage by electronic media of its public proceedings with the least possible disruption of its hearings; and
That the Committee submit its final report no later than March 31, 2003.
The question being put on the motion, it was adopted.
Paul C. Bélisle
Clerk of the Senate
Summary of expenditures
|
Professional & Other Services |
$ 3,000 |
|
Transportation and communications |
$ 0 |
|
Other Expenditures |
$ 2,000 |
|
TOTAL |
$ 5,000 |
The Standing Committee on Banking, Trade and Commerce approved the above budget on __________
The undersigned or an alternate will be in attendance on the date that this Budget is considered.
______________
_______________________________________________________________________
Date
Chair, Standing Senate Committee on Banking, Trade and Commerce
______________
_______________________________________________________________________
Date
Chairman, Standing Senate Committee on Internal Economy,
Budgets and Administration
EXPLANATION OF BUDGET ITEMS
PROFESSIONAL AND SPECIAL SERVICES
|
1. Working Meals |
$ 3,000 |
|
Subtotal |
$ 3,000 |
ALL OTHER EXPENDITURES
|
1. Miscellaneous expenses |
$ 2,000 |
|
Subtotal |
$ 2,000 |
TOTAL $ 5,000
The Senate Administration has reviewed this budget application.
______________________________________________
______________
Heather Lank
Date
Director of Committees and Private Legislation
______________________________________________
______________
Richard Ranger
Date
Director of Finance
APPENDIX (B) TO THE REPORT
Thursday, December 5, 2002
The Standing Committee on Internal Economy, Budgets and Administration has examined the budget presented to it by the Standing Senate Committee on Banking, Trade and Commerce for the proposed expenditures of the said Committee for the fiscal year ending March 31, 2003 for the purpose of its Special Study on public interest implications for large bank mergers, as authorized by the Senate on Tuesday, October 29, 2002. The said budget is as follows:
|
Professional and Other Services |
$ 3,000 |
|
Transportation and Communications |
$ 0 |
|
Other Expenditures |
$ 2,000 |
|
Total |
$ 5,000 |
Respectfully submitted,
LISE BACON
Chair