Proceedings of the Standing Senate Committee on
Banking, Trade and Commerce
Issue 18 - Minutes of Proceedings
OTTAWA, Thursday, March 22, 2007
(35)
[English]
The Standing Senate Committee on Banking, Trade and Commerce met at 10:55 a.m., this day, in room 9, Victoria Building, the Chair, the Honourable Jerahmiel S. Grafstein, presiding.
Members of the committee present: The Honourable Senators Angus, Biron, Eyton, Goldstein, Grafstein, Harb, Massicotte and Meighen (8).
Other senator present: The Honourable Senator Ringuette (1).
In attendance: June Dewetering, Analyst, Library of Parliament.
Also in attendance: The official reporters of the Senate.
Pursuant to the Order of Reference adopted by the Senate on March 21, 2007, the committee began its study of Bill C-37, to amend the law governing financial institutions and to provide for related and consequential matters.
WITNESSES:
Public Interest Advocacy Centre:
John Lawford, Counsel;
Jacques St-Amant, Legal Counsel.
Canadian Community Reinvestment Coalition:
Duff Conacher, Chairperson.
Financial Consumer Agency of Canada:
Jim Callon, Acting Commissionner;
Susan Murray, Acting Deputy Commissioner.
Office of the Superintendent of Financial Institutions Canada (OSFI):
Julie Dickson, Acting Superintendent of Financial Institutions.
At 10:55 a.m., Mr. Lawford and Mr. Conacher each made a statement and, together with the other witness, answered questions.
At 12:15 p.m., Mr. Callon and Ms. Dickson made a statement and, together with the other witness, answered questions.
The committee considered the following draft budget application:
Professional and Other Services $ 53,500 Transportation and Communications $ 220,080 All Other Expenditures $ 5,300 TOTAL $ 278,880
It was moved by the Honourable Senator Angus that the draft budget concerning the study on interprovincial barriers to trade in the amount of $278,880 be adopted and that the Chair present the same to the Committee on Internal Economy, Budgets and Administration.
The question being put on the motion, it was adopted.
The committee considered the following draft budget application:
Professional and Other Services $ 27,300 Transportation and Communications $ 80,025 All Other Expenditures $ 2,000 TOTAL $ 109,325
It was moved by the Honourable Senator Goldstein that the draft budget concerning the study on the present state of the domestic and international financial system in the amount of $109,325 be adopted and that the Chair present the same to the Committee on Internal Economy, Budgets and Administration.
The question being put on the motion, it was adopted.
The committee considered the following draft budget application:
Professional and Other Services $ 22,000 Transportation and Communications $ 0 All Other Expenditures $ 8,000 TOTAL $ 30,000
It was moved by the Honourable Senator Angus that the draft budget concerning Legislation in the amount of $30,000 be adopted and that the Chair present the same to the Committee on Internal Economy, Budgets and Administration.
The question being put on the motion, it was adopted.
At 1:20 p.m., the committee adjourned to the call of the Chair.
ATTEST:
Line Gravel
Clerk of the Committee