Tuesday, February 13, 2018

The Standing Senate Committee on Banking, Trade and Commerce has the honour to present its

TWENTIETH REPORT

Your committee, to which was referred Bill S-237, An Act to amend the Criminal Code (criminal interest rate), has, in obedience to the order of reference of November 23, 2017, examined the said bill and now reports the same with the following amendments:

1. Clause 1, page 1: Replace line 15 with the following:

“plus forty-five per cent on the credit advanced under an”.

2. New Clause 1.1, page 2: Add the following after line 14:

“1.1 (1) Every three 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.”.

Respectfully submitted,