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

Issue 22 - Minutes of Proceedings - June 21, 2012


OTTAWA, Thursday, June 21, 2012
(48)

[English]

The Standing Senate Committee on Banking, Trade and Commerce met this day at 10:32 a.m., in room 9, Victoria Building, the Honourable Irving Gerstein, Chair, presiding.

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

Other senator present: The Honourable Senator Eggleton, P.C. (1).

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 Thursday, June 14, 2012, the committee continued its examination of Bill C-25, An Act relating to pooled registered pension plans and making related amendments to other Acts.

It was agreed that the committee proceed to clause-by-clause consideration of Bill C-25, An Act relating to pooled registered pension plans and making related amendments to other Acts.

It was agreed, with leave, that the clauses be grouped by the headings identified in the bill, when appropriate.

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 9 under the headings Interpretation, Purpose of the Act, Application and Agreements carry.

It was agreed that clauses 10 to 13 under the headings Powers of Superintendant and Registration carry.

It was agreed that clauses 14 to 26 under the heading Administration of Pooled Registered Pension Plans carry.

It was agreed that clauses 27 to 33 under the heading Employer carry.

It was agreed that clauses 34 to 38 under the headings Directions of Compliance and Objections and Appeals carry.

It was agreed that clauses 39 to 44 under the heading General Requirements carry.

It was agreed that clauses 45 to 51 under the headings Contributions, Locking-In and Variables Payments carry.

It was agreed that clauses 52 to 57 under the headings Death of Member; Divorce, Annulment, Separation or Breakdown of Common-Law Partnership; Transfer of Funds and Purchase of Life Annuities; Sex Discrimination Prohibited and Rights to Information carry.

It was agreed that clauses 58 to 62 under the headings Duty to Provide Information and Termination and Winding-Up carry.

It was agreed that clauses 63 to 74 under the heading General carry.

It was agreed that clauses 75 to 78 under the headings Offences and Punishment, Regulations and Annual Report carry.

It was agreed that clauses 79 to 95 under the headings Related Amendments, Coordinating Amendment and Coming Into Force 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.

The Honourable Senator Tkachuk moved that the committee report the bill without amendment.

After debate, the question being put on the motion, it was adopted.

The Honourable Senator Tkachuk moved that the committee adjourn.

The question being put on the motion, it was adopted.

At 10:48 a.m., the committee adjourned to the call of the chair.

ATTEST:

Adam Thompson

Clerk of the Committee