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