Proceedings of the Standing Senate Committee on
Banking, Trade and Commerce
Issue 8 - Minutes of Proceedings - December 15, 2011
OTTAWA, Thursday, December 15, 2011
(19)
[English]
The Standing Senate Committee on Banking, Trade and Commerce met this day at 10:31 a.m., in room 505, Victoria Building, the Chair, the Honourable Michael A. Meighen, presiding.
Members of the committee present: The Honourable Senators Campbell, Gerstein, Greene, Hervieux-Payette, P.C., Losier-Cool, Massicotte, Meighen, Moore, Oliver, Smith (Saurel), Stewart Olsen and Tkachuk (12).
In attendance: John Bulmer, June Dewetering and Adriane Yong, Analysts, 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, December 6, 2011, the committee continued its examination of Bill S-5, An Act to amend the law governing financial institutions and to provide for related and consequential matters. (For the complete text of the order of reference, see proceedings of the committee, Issue No. 7.)
WITNESSES:
Department of Finance Canada:
Jeremy Rudin, Assistant Deputy Minister, Financial Sector Policy Branch;
Jane Pearse, Director, Financial Institutions Division;
Eleanor Ryan, Senior Chief, Financial Institutions Division;
Leah Anderson, Director, Financial Sector Division;
Joseph de Pencier, Senior Counsel, General Legal Services.
The chair made an opening statement.
Witnesses answered questions.
At 10:50 a.m., it was agreed that the committee proceed to clause-by-clause consideration of Bill S-5, An Act to amend the law governing financial institutions and to provide for related and consequential matters.
It was agreed, with leave, that the clauses be grouped.
It was agreed that the title stand postponed.
It was agreed that clause 1, which contains the short title, stand postponed.
It was agreed that clauses 2 to 20 carry.
It was agreed that clauses 21 to 40 carry.
It was agreed that clauses 41 to 60 carry.
It was agreed that clauses 61 to 80 carry.
It was agreed that clauses 81 to 100 carry.
It was agreed that clauses 101 to 120 carry.
It was agreed that clauses 121 to 140 carry.
It was agreed that clauses 141 to 160 carry.
It was agreed that clauses 161 to 180 carry.
It was agreed that clauses 181 to 200 carry.
It was agreed that clauses 201 to 220 carry.
It was agreed that clauses 221 to 225 carry.
It was agreed that clause 1, which contains the short title carry.
It was agreed that the title carry.
It was agreed that the bill carry.
At 10:56 a.m., the committee suspended.
At 10:58 a.m., the committee resumed in camera.
It was agreed that senators' staff be allowed to stay in the room.
Pursuant to rule 92(2)(f), the committee considered a draft report.
It was agreed that observations be appended to the committee's report on the bill.
At 11:08 a.m., the committee resumed in public.
It was agreed that the chair report the bill without amendment, but with observations, to the Senate.
At 11:10 a.m., the committee adjourned to the call of the chair.
ATTEST:
Adam Thompson
Clerk of the Committee