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

Issue 18 - Minutes of Proceedings - May 17, 2012

OTTAWA, Thursday, May 17, 2012


The Standing Senate Committee on Banking, Trade and Commerce met this day at 10:30 a.m., in room 9, Victoria Building, the chair, the Honourable Irving Gerstein, presiding.

Members of the committee present: The Honourable Senators Dawson, Gerstein, Greene, Harb, Hervieux-Payette, P.C., Maltais, Moore, Oliver, Ringuette, Smith (Saurel), Stewart Olsen and Tkachuk (12).

In attendance: John Bulmer 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 Thursday, May 3, 2012, the committee continued its examination of the subject-matter of those elements contained in Divisions 2, 10, 11, 22, 28, and 36 of Part 4 of Bill C- 38, An Act to implement certain provisions of the budget tabled in Parliament on March 29, 2012 and other measures.


Canada Mortgage and Housing Corporation:

Karen Kinsley, President and Chief Executive Officer;

Sébastien Gignac, General Counsel.

Office of the Superintendent of Financial Institutions Canada:

Penny Lee, Senior Director, Property and Casualty Insurance Group;

Patty Evanoff, Senior Director, Legislation and Approvals Division.

The chair made an opening statement.

Ms. Kinsley made a statement, and, together with Mr. Gignac, answered questions.

At 11:31 a.m., the committee suspended.

At 11:33 a.m., the committee resumed.

The chair made a statement.

Ms. Evanoff made a statement, and, together with Ms. Lee, answered questions.

At 12:15 p.m., the committee adjourned to the call of the chair.


Adam Thompson

Clerk of the Committee