Proceedings of the Standing Senate Committee on
Banking, Trade and Commerce
Issue 1 - Minutes of Proceedings
OTTAWA, Thursday, October 7, 2004
(1)
[English]
The Standing Senate Committee on Banking, Trade and Commerce met this day at 11:20 a.m., in room 505, Victoria Building for the purpose of organization, pursuant to rule 88.
Members of the committee present: The Honourable Senators Angus, Biron, Grafstein, Plamondon and Tkachuk (5).
In attendance: Ms. June Dewetering and Mr. Jean Dupuis, Analysts, Library of Parliament.
Also in attendance: The official reporters of the Senate.
Pursuant to rule 88, the Clerk presided over the election of the Chair.
The Honourable Senator Angus moved:
That the Honourable Senator Grafstein do take the Chair of this committee.
The question being put on the motion, it was adopted.
The Honourable Senator Grafstein assumed the Chair and made opening remarks.
The Honourable Senator Tkachuk moved:
That the Honourable Senator Angus be Deputy Chair of this Committee.
The question being put on the motion, it was adopted.
The Honourable Senator Tkachuk moved:
That the Subcommittee on Agenda and Procedure be composed of the Chair, the Deputy Chair and one other member of the committee, to be designated after the usual consultation; and
That the subcommittee be empowered to make decisions on behalf of the committee with respect to its agenda, to invite witnesses, and to schedule hearings.
The question being put on the motion, it was adopted.
The Honourable Senator Angus moved:
That the committee print its proceedings; and
That the Chair be authorized to set the number to meet demand;
That pursuant to rule 89, the Chair be authorized to hold meetings, to receive and authorize the printing of the evidence when a quorum is not present, provided that a member of the committee from both the government and the opposition be present;
That the committee adopt the draft first report, prepared in accordance with rule 104;
That the committee ask the Library of Parliament to assign research staff to the committee;
That the Chair be authorized to seek authority from the Senate to engage the services of such counsel and technical, clerical and other personnel as may be necessary for the purpose of the committee's examination and consideration of such bills, subject-matters of bills and estimates as are referred to it;
That the Subcommittee on Agenda and Procedure be authorized to retain the services of such experts as may be required by the work of the committee; and
That the Chair, on behalf of the committee, direct the research staff in the preparation of studies, analyses, summaries and draft reports;
That pursuant to section 32 of the Financial Administration Act, the authority to commit funds be conferred individually on the Chair, the Deputy Chair and the Clerk of the Committee; and
That pursuant to section 34 of the Financial Administration Act, and Guideline 3:05 of Appendix II of the Rules of the Senate, the authority for certifying accounts payable by the committee be conferred individually on the Chair, the Deputy Chair, and the Clerk of the Committee;
That the committee empower the Subcommittee on Agenda and Procedure to designate, as required, one or more members of the committee and/or such staff as may be necessary to travel on assignment on behalf of the committee;
That the Subcommittee on Agenda and Procedure be authorized to:
1) determine whether any member of the committee is on ``official business'' for the purpose of paragraph 8(3)(a) of the Senators Attendance Policy, published in the Journals of the Senate on Wednesday, June 3, 1998; and
2) consider any member of the committee to be on ``official business'' if that member is:
a) attending a function, event or meeting related to the work of the committee; or
b) making a presentation related to the work of the committee;
That pursuant to the Senate guidelines for witnesses expenses, the committee may reimburse reasonable travelling and living expenses for one witness from any one organization and payment will take place upon application, but that the Chair be authorized to approve expenses for a second witness should there be exceptional circumstances;
That the Chair be authorized to seek permission from the Senate to permit coverage by electronic media of its public proceedings with the least possible disruption of its hearings; and
That the Subcommittee on Agenda and Procedure be empowered to allow such coverage at its discretion.
The question being put on the motion, it was adopted.
The Chair informed the members that the committee's regular meeting times are Wednesdays when the Senate rises but not before 4:00 p.m. and Thursdays at 10:45 a.m., and that meetings will generally be held in room 505, Victoria Building.
It was agreed that the committee proceed to consider its agenda.
At 11:40 a.m., the Honourable Senator Tkachuk moved:
That the committee do now adjourn.
The question being put on the motion, it was adopted.
ATTEST:
OTTAWA, Wednesday, October 27, 2004
(2)
[English]
The Standing Senate Committee on Banking, Trade and Commerce met in camera this day, at 4:05 p.m. in room 505, Victoria Building, the Chair, the Honourable Jerahmiel S. Grafstein, presiding.
Members of the committee present: The Honourable Senators Angus, Fitzpatrick, Grafstein, Harb, Oliver, Massicotte, Moore, Plamondon and Tkachuk (9).
In attendance: Ms. June Dewetering and Mr. Jean Dupuis, Analysts, Library of Parliament.
Pursuant to rule 92(2)(e), the committee considered its agenda.
It was agreed that staff be permitted to stay in the room during the in camera meeting.
It was agreed that the committee hold meetings the following week to consider its agenda.
It was agreed that the committee hear from Mr. David Dodge, Governor of the Bank of Canada, on Wednesday, November 24, 2004.
At 5:07 p.m., the committee adjourned to the call of the Chair.
ATTEST:
OTTAWA, Wednesday, November 3, 2004
(3)
[English]
The Standing Senate Committee on Banking, Trade and Commerce met in camera this day, at 4:15 p.m. in room 505, Victoria Building, the Chair, the Honourable Jerahmiel S. Grafstein, presiding.
Members of the committee present: The Honourable Senators Angus, Grafstein, Harb, Hervieux-Payette P.C., Oliver, Massicotte, Moore, Plamondon and Tkachuk (9).
In attendance: June Dewetering and Jean Dupuis, Analysts, Library of Parliament.
Pursuant to rule 92(2)(e), the committee considered its agenda.
It was agreed that staff be permitted to stay in the room during the in camera meeting.
It was agreed that the Chair be authorized to seek the following two orders of reference from the Senate:
That the Standing Senate Committee on Banking, Trade and Commerce be authorized to examine and report on consumer issues arising in the financial services sector. In particular, the Committee shall be authorized to examine:
- the impact of federal legislation and initiatives designed to protect consumers within the financial services sector;
- the role, corporate governance structure and effectiveness of agencies (including supervisory/regulatory and self- regulating), ombudspersons and others who play a role with respect to consumer protection and the supervision of the financial services sector;
- consumer credit rates and reporting agencies; and
- other related issues; and
That the Committee submit its final report no later than June 30, 2005, and that the Committee retain until August 31, 2005 all powers necessary to publicize its findings.
That the Standing Senate Committee on Banking, Trade and Commerce be authorized to examine and report on issues dealing with charitable giving in Canada. In particular, the Committee shall be authorized to examine:
- the needs and opportunities of Canadians in relation to various aspects of Canadian life (such as health care, education, social and cultural programs and institutions, senior care, heritage preservation, scientific research and more) and the ability of Canadians to assist in these areas through charitable giving;
- current federal policy measures on charitable giving;
- new or enhanced federal policy measures, with an emphasis on tax policy, which may make charitable giving more affordable for Canadians at all income levels;
- the impact of current and proposed federal policy measures on charitable giving at the local, regional and national levels and across charities;
- the impact of current and proposed federal policy measures on the federal treasuries; and
- other related issues; and
That the Committee submit an interim report no later than December 16, 2004 and its final report no later than March 31, 2005, and that the Committee retain until May 31, 2005 all powers necessary to publicize its findings.
It was agreed that the Chair be authorized to seek the following orders of reference from the Senate, and that the Committee submit a final report on each no later than June 30, 2005:
The demographic change that will occur in Canada within the next two decades, the implications of that change for Canada's economy, labour market and retirement income system, and federal actions that could be taken to ensure that any implications of future demographic change are, to the extent possible, properly addressed;
Productivity, in particular the rate of productivity in Canada and in relation to our major trading partners (especially the United States); the extent to which the rate of productivity is limiting the growth and the economic well-being of Canadians; and, federal and other measures that could be taken to enhance Canada's rate of productivity growth and competitiveness;
Interprovincial barriers to trade, particularly the barriers that exist, the extent to which they are limiting the growth and profitability of the affected sectors, and measures that could be taken by the federal government to facilitate the elimination of such barriers in order to enhance trade.
It was agreed that the meeting scheduled for Thursday, November 4, 2004 be cancelled.
At 5:15 p.m., the committee adjourned to the call of the Chair.
ATTEST:
OTTAWA, Thursday, November 18, 2004
(4)
[English]
The Standing Senate Committee on Banking, Trade and Commerce met this day, at 11:05 a.m. in room 505, Victoria Building, the Chair, the Honourable Jerahmiel S. Grafstein, presiding.
Members of the committee present: The Honourable Senators Angus, Fitzpatrick, Grafstein, Harb, Hervieux- Payette P.C., Massicotte, Moore, Oliver, Plamondon and Tkachuk (10).
In attendance: June Dewetering and Jean Dupuis, Analysts, Library of Parliament.
Also present: The official reporters of the Senate.
Pursuant to the Order of Reference adopted by the Senate on Tuesday, November 16, 2004, the committee began its consideration of consumer issues arising in the financial services sector.
WITNESSES:
Department of Finance:
Gerry Salembier, Director, Financial Institutions Division;
Beth Woloski, Chief, Consumer Issues, Financial Institutions Division;
Manuel Dussault, Senior Economist, Consumer Issues, Financial Institutions Division;
David Smith, Economist, Consumer Issues, Financial Institutions Division.
The Chair made an opening statement.
Mr. Salembier made a presentation and answered questions.
It was agreed that the committee proceed to consider budget applications for the fiscal year 2004-2005.
The committee suspended at 12:44 p.m.
The committee resumed at 12:47 p.m.
The Honourable Senator Moore moved that the following budget application for a study on the present state of the domestic and international financial system for the fiscal year ending March 31, 2005 be concurred in; and, that the Chair submit same to the Standing Committee on Internal Economy, Budgets and Administration.
| Professional & Other Services | $ 25,750 |
| Transportation and communications | $ 69,070 |
| Other Expenditures | $ 3,000 |
| TOTAL | $ 97, 820 |
The question being put on the motion, it was adopted.
The Honourable Senator Moore moved that the following budget application for the fiscal year ending March 31, 2005 be concurred in, and, subject to the approval of the Senate to the proposed terms of reference on charitable giving, that the Chair submit same to the Standing Committee on Internal Economy, Budgets and Administration.
| Professional & Other Services | $ 23,000 |
| Transportation and communications | $ 0 |
| Other Expenditures | $ 2,000 |
| TOTAL | $ 25,000 |
The question being put on the motion, it was adopted.
The Honourable Senator Moore moved that the following budget application for the study of legislation for the fiscal year ending March 31, 2005 be concurred in; and, that the Chair submit same to the Standing Committee on Internal Economy, Budgets and Administration.
| Professional & Other Services | $ 6,800 |
| Transportation and communications | $ 0 |
| Other Expenditures | $ 7,500 |
| TOTAL | $ 14,300 |
The question being put on the motion, it was adopted.
The Honourable Senator Moore moved that the following budget application for a study on consumer issues arising in the financial services sector for the fiscal year ending March 31, 2005 be concurred in; and, that the Chair submit same to the Standing Committee on Internal Economy, Budgets and Administration.
| Professional & Other Services | $ 23,000 |
| Transportation and communications | $ 0 |
| Other Expenditures | $ 2,000 |
| TOTAL | $ 25,000 |
After debate, the question being put on the motion, it was adopted.
At 12:55 a.m., pursuant to rule 92(2)(e), the committee proceeded in camera to consider its agenda.
It was agreed that the committee meet on Thursday, November 25, 2004 to consider Bill S-17, An Act to implement an agreement, conventions and protocols concluded between Canada and Gabon, Ireland, Armenia, Oman and Azerbaijan for the avoidance of double taxation and the prevention of fiscal evasion.
At 1:05 p.m., the committee adjourned to the call of the Chair.
ATTEST:
Gérald Lafrenière
Clerk of the Committee