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

Second Session, Thirty-seventh Parliament, 2002-03

Chair: The Honourable E. LEO KOLBER


Wednesday, March 26, 2003
Thursday, March 27, 2003

Issue No. 16

Sixteenth and seventeenth meetings on: The present state of the domestic and international financial system

and

First and last meeting on: Bill C-3, An Act to amend the Canada Pension Plan and the Canada Pension Plan Investment Board Act.

INCLUDING:
THE SEVENTH REPORT OF THE COMMITTEE
(Question of privilege raised by the Honourable Senator Kolber)

THE EIGHTH REPORT OF THE COMMITTEE
(Request of approval of funds for 2003-2004)

THE NINTH REPORT OF THE COMMITTEE
(Bill C-3, An Act to amend the Canada Pension Plan and
the Canada Pension Plan Investment Board Act)


WITNESSES:

March 26 meeting

From the Department of Finance:

Mr. Charles Seeto, Director, Financial Sector Division;

Mr. Timothy Bishop, Senior Project Leader, Financial Sector Division.

March 27 meeting

From the Department of Finance:

Mr. Bryon Wilfert, M.P., Parliamentary Secretary to the Minister of Finance;

Mr. Larry Weatherley, Chief, Government Financing, Financial Markets Division, Financial Sector Policy Branch;

Mr. Del Carrothers, Director General, Seniors and OAS/CPP Programs, Human Resources and Development Canada;

Mr. Jean-Claude Ménard, Chief Actuary, Office of the Superintendent of Financial Institutions;

Mr. Doug Wyatt, General Counsel, Department of Justice, Central Agencies Portfolio, Department of Finance, General Legal Services.

From CPP Investment Board:

Ms. Gail Cook-Bennett, Chairperson of the Board of Directors;

Mr. John A. MacNaughton, President and CEO.

Mr. Ian Dale, Vice-President — Communications and Stakeholder Relations.

By Vido-conference

Mr. Derek Higgs, Author, Report entitled ``Review of the role and effectiveness of non-executive directors.''


MEMBERS OF THE COMMITTEE

The Honourable E. Leo Kolber, Chair

The Honourable David Tkachuk, Deputy Chair

and

The Honourable Senators:

Bolduc, *Carstairs, P.C. (or Robichaud, P.C.), Fitzpatrick, Hervieux-Payette, P.C., Hubley, Kelleher, P.C., Kroft, *Lynch-Staunton (or Kinsella), Moore, Oliver, Prud'homme, P.C., Setlakwe

*Ex Officio Members

(Quorum 4)

Changes in membership of the committee:

Pursuant to rule 85(4), membership of the committee was amended as follows:

The name of the Honourable Senator Bolduc substituted for that of the Honourable Senator Angus (March 27, 2003).

The name of the Honourable Senator Hubley substituted for that of the Honourable Senator Biron (March 27, 2003).

The name of the Honourable Senator Oliver substituted for that of the Honourable Senator Meighen (March 26, 2003).

The name of the Honourable Senator Angus substituted for that of the Honourable Senator Oliver (March 5, 2003).