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

Issue 3 - Minutes of Proceedings

MINUTES OF PROCEEDINGS

OTTAWA, Wednesday, December 5, 2007
(5)

[English]

The Standing Senate Committee on Banking, Trade and Commerce met at 4:15 p.m., this day, in room 9, Victoria Building, the Chair, the Honourable W. David Angus, presiding.

Members of the committee present: The Honourable Senators Angus, Biron, Eyton, Goldstein, Harb, Massicotte, Meighen, Moore, Ringuette and Tkachuk (10).

Other senator present: The Honourable Senator Gustafson (1).

In attendance: June Dewetering and Philippe Bergevin, Analysts, Parliamentary Information and Research Service, Library of Parliament.

Also in attendance: The official reporters of the Senate.

Pursuant to the orders of reference adopted by the Senate on Tuesday, November 20, 2007, the committee began its study of the present state of the domestic and international financial system and its study of issues dealing with interprovincial barriers to trade in Canada.

APPEARING:

The Honourable James M. Flaherty, P.C., M.P., Minister of Finance.

WITNESSES:

Department of Finance Canada:

Serge Dupont, Assistant Deputy Minister, Financial Sector Policy Branch;

Denis Gauthier, Assistant Deputy Minister, Economic Development and Corporate Finance.

Minister Flaherty made a statement and, together with the other witnesses, answered questions.

At 5:35 p.m., pursuant to the order of reference adopted by the Senate on Thursday, November 15, 2007, the committee continued its study of the Bill C-12, An Act to amend the Bankruptcy and Insolvency Act, the Companies' Creditors Arrangement Act, the Wage Earner Protection Program Act and chapter 47 of the Statutes of Canada, 2005. (For the complete text of order of reference see proceedings of the committee, Issue No. 2.)

WITNESSES:

Canadian Association of Insolvency and Restructuring Professionals (CAIRP):

Kevin Brennan, Vice-Chair (CAIRP), Senior Vice-President, Ernst & Young Inc.;

Claude Gilbert, Past Chair (CAIRP), Senior Vice-President, PricewaterhouseCoopers Inc..

Mr. Brennan and Mr. Gilbert made a statement and answered questions.

At 6:15 p.m., the committee adjourned to the call of the chair.

ATTEST:

OTTAWA, Thursday, December 6, 2007
(6)

[English]

The Standing Senate Committee on Banking, Trade and Commerce met at 11 a.m., this day, in room 9, Victoria Building, the chair, the Honourable W. David Angus, presiding.

Members of the committee present: The Honourable Senators Angus, Goldstein, Harb, Meighen, Moore, Poulin, Ringuette and Tkachuk (8).

Other senators present: The Honourable Senators Gustafson and Segal (2).

In attendance: Philippe Bergevin, Analyst, Parliamentary Information and Research Service, Library of Parliament.

Also in attendance: The official reporters of the Senate.

Pursuant to the order of reference adopted by the Senate on Tuesday, November 20, 2007, the committee continued its study of the present state of the domestic and international financial system.

WITNESSES:

Bank of Canada:

David A. Dodge, Governor of the Bank of Canada;

Paul Jenkins, Senior Deputy Governor.

Mr. Dodge made a statement and, together with the other witness, answered questions.

At 12:55 p.m., the committee adjourned to the call of the chair.

ATTEST:

Line Gravel

Clerk of the Committee

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