Proceedings of the Standing Senate Committee on Banking, Trade and
Issue 45 - Minutes of Proceedings
OTTAWA, Tuesday, February 16, 1999 (91)
The Standing Senate Committee on Banking, Trade and Commerce met this day at
9:00 a.m. in room 505, Victoria Building, the Chairman, the Honourable Michael
Members of the committee present: The Honourable Senators Angus, Austin,
P.C., Callbeck, Hervieux-Payette, P.C., Kelleher, P.C., Kenny, Kirby, Kolber,
Kroft, Lynch-Staunton, Meighen, Oliver and Tkachuk (13).
Other senator present: The Honourable Senator Ghitter.
In attendance: From the Parliamentary Research Branch, Library of
Parliament, Mr. Gerry Goldstein, Director, Economics Division and Ms Margaret
Smith, Research Officer, Law and Government Division.
The Honourable John Manley, P.C., M.P., Minister of Industry.
For Bill C-20
From the Department of Industry Canada:
Mr. Konrad von Finckenstein, Director of Investigation and Research, Competition
Mr. Don Mercer, Assistant Deputy Director of Investigation and Research,
Amendments Unit, Competition Bureau.
For Bill C-59
From the Department of Finance:
Mr. David Tobin, General Director, Financial Sector Policy Branch;
Mr. Charles Seeto, Director, Financial Sector Division;
Mr. Claude Gingras, Special Advisor, Financial Sector Division;
Mr. Gilbert Ménard, Senior Chief, Financial Institutions Section,
Business Income Tax Division;
Mr. Louis Lévesque, General Director, Analyst, Tax Policy Branch;
Mr. Doug Wyatt, General Counsel.
From the Office of the Superintendent of Financial Institutions:
Mr. Michael Hale, Director, Actuarial.
Pursuant to the Order of Reference adopted by the Senate on Thursday, February
11, 1999, together with the Message from the House of Commons on the same
subject, dated February 5, 1999, the committee proceeded with the amendments
made by the House of Commons to its amendments to Bill C-20, An Act to amend
the Competition Act and to make consequential and related amendments to other
The Honourable John Manley made an opening statement and answered questions.
It was moved by the Honourable Senator Kenny, -- That the Message received from
the House be accepted and reported to the Senate without amendment.
At 10:40 a.m., pursuant to the Order of Reference adopted by the Senate on
Thursday, February 4, 1999, the Committee proceeded to study Bill C-59, An Act
to amend the Insurance Companies Act. (See Issue No. 44, February 9, 1999,
for the full text of the Order of Reference.)
Mr. Tobin and Mr. Lévesque each made an opening statement and then, along
with other witnesses, answered questions.
It is moved by the Honourable Senator Kroft, -- That the committee complete
clause-by-clause consideration of Bill C-59.
It was agreed, -- That Bill C-59 be adopted and reported to the Senate without
amendment but with observations.
It was agreed, -- That the Chairman would write to the Office of the
Superintendent of Financial Institutions raising issues relating to concerns
expressed by members.
At 11:45 a.m. the committee adjourned to the call of the Chair.