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

Issue No. 33 - Evidence - February 8, 2018

OTTAWA, Thursday, February 8, 2018
(86)

[English]

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 Douglas Black, presiding.

Members of the committee present: The Honourable Senators Black, Dagenais, Galvez, Maltais, Marwah, Ringuette, Stewart Olsen, Tannas, Tkachuk and Wetston (10).

In attendance: Adriane Yong and Michaël Lambert-Racine, Analysts, Parliamentary Information and Research Services, Library of Parliament; Mila Pavlovic, Communications Officer, Senate Communications Directorate.

Also present: The official reporters of the Senate.

Pursuant to the order of reference adopted by the Senate on Thursday, November 23, 2017, the committee continued its consideration of Bill S-237, An Act to amend the Criminal Code (criminal interest rate). (For complete text of the order of reference, see proceedings of the committee, Issue No. 32.)

The chair made a statement.

It was agreed that that committee proceed with clause-by-clause consideration of Bill S-237, on division.

It was agreed that the title stand postponed, on division.

The chair asked whether clause 1 shall carry.

The Honourable Senator Tannas moved:

That Bill S-237 be amended in clause 1, on page 1, by replacing line 15 with the following:

"plus forty-five per cent on the credit advanced under an''.

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

It was agreed that clause 1, as amended, carry, on division.

The chair asked whether clause 2 shall carry.

The Honourable Senator Tannas moved:

That Bill S-237 be amended on page 2, by adding after line 14 the following:

"1.1 (1) Every five years beginning on the day on which this Act comes into force, a committee of the Senate, of the House of Commons, or of both Houses of Parliament that may be designated or established for that purpose, shall review the criminal rate.

(2) The committee shall submit a report on the review to Parliament that includes a statement of any changes to the criminal rate that the committee recommends.''.

After debate, the Honourable Senator Ringuette moved that the motion in amendment be amended by replacing "five'' with "three''.

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

After debate, the question being put on the motion in amendment, as amended, it was adopted.

It was agreed that clause 1.1., as amended, carry.

It was agreed that clause 2 carry.

It was agreed that the title carry.

It was agreed that the bill, as amended, carry, on division.

It was agreed that Bill S-237 be reported, with amendments, to the Senate.

At 10:49 a.m., the committee suspended.

At 10:50 a.m., pursuant to rule 12-16(1)(d), the committee resumed in camera to consider a draft agenda (future business).

At 11:13 a.m., the committee adjourned to the call of the chair.

ATTEST:

Barbara Reynolds
Clerk of the Committee