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

Second Session, Thirty-ninth Parliament, 2007

Chair: The Honourable W. DAVID ANGUS

Wednesday, December 12, 2007
Thursday, December 13, 2007

Issue No. 4

First and second meetings on:

Bill C-10, An Act to amend the Income Tax Act, including amendments in relation to foreign investment entities
and non-resident trusts, and to provide for the bijural expression of the provisions of that Act

and
Third (final) meeting on:

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

INCLUDING:
THE FIFTH REPORT OF THE COMMITTEE (Bill C-12)

APPEARING:

Wednesday, December 12, 2007

Ted Menzies, M.P., Parliamentary Secretary to the Minister of Finance

WITNESSES:

Wednesday, December 12, 2007

Department of Finance Canada:

Gérard Lalonde, Director, Tax Policy Branch;

Grant Nash, Acting Chief, Tax Policy Branch.

Society of Trust and Estate Practitioners (STEP):

Stewart Lewis, Chief Executive Officer;

Paul LeBreux, Past Chair;

Robin J. MacKnight, Counsel and Director, STEP Canada.

Stikeman Elliott:

Charles C. Gagnon, Counsel.

Thursday, December 13, 2007

Investment Counsel Association of Canada:

Katie A. Walmsley, President;

Tom Johnston, Chair, ICAC Industry, Regulation & Tax Committee;

Pamela Moore, Chair, ICAC Member Services Committee.

Department of Finance Canada:

Gérard Lalonde, Director, Tax Policy Branch;

Brian Ernewein, General Director, Tax Policy Branch;

Grant Nash, Acting Chief, Tax Policy Branch.

MEMBERS OF THE COMMITTEE

The Honourable W. David Angus, Chair

The Honourable Yoine Goldstein, Deputy Chair

and

The Honourable Senators:

Biron, Eyton, Fitzpatrick, Harb, *Hervieux-Payette, P.C. (or Tardif), *LeBreton, P.C. (or Comeau), Massicotte, Moore, Nolin, Ringuette, Tkachuk

*Ex officio members

(Quorum 4)

Change in membership of the committee:

Pursuant to rule85(4), membership of the committee was amended as follows:

The name of the Honourable Senator Nolin substituted for that of the Honourable Senator Meighen (December12, 2007).