BANC - Standing Committee

Banking, Commerce and the Economy

Past Session: Past Session:
35-2 35th Parliament, 2nd Session (February 27, 1996 - April 27, 1997)
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Proceedings of the Standing Senate Committee on
Banking, Trade and Commerce

Issue 1 - Minutes of Proceedings

OTTAWA, Tuesday, March 19, 1996
(1)

[English]

The Standing Senate Committee on Banking, Trade and Commerce met this day, at 10:00 a.m., in Room 505, Victoria Building, for its organization meeting.

Members of the Committee present: The Honourable Senators Angus, Hervieux-Payette, P.C., Kirby, Kolber, Perrault, P.C., St. Germain, P.C. and Simard. (7)

In attendance: From the Research Branch of the Library of Parliament: Mr. Gerald Goldstein, Director, Economics Division and Ms Margaret Smith, Research Officer, Law and Government.

Also present: The official reporters of the Senate.

Pursuant to Rule 88, the Clerk presided over the election of a chairman.

The Honourable Senator Angus moved, - THAT the Honourable Senator Kirby be Chairman of the Committee.

The question being put on the motion, it was - Resolved in the affirmative.

The Honourable Senator St. Germain moved, - THAT the Honourable Senator Angus be Deputy Chairman of the Committee.

The question being put on the motion, it was - Resolved in the affirmative.

The Honourable Senator Angus moved, - THAT the Subcommittee on Agenda and Procedure be composed of the Chairman, the Deputy Chairman and one other member of the Committee to be designated after the usual consultation; THAT on matters of agenda and procedure, the Subcommittee be empowered to make decisions on behalf of the Committee; THAT the Subcommittee be empowered to invite witnesses and schedule hearings; and THAT the Sub-Committee report its decisions to the Committee.

And the question being put on the motion, it was - Resolved in the affirmative.

The Honourable Senator Angus moved, - THAT the Committee print 600 copies of its Proceedings and the Chairman be authorized to adjust this number based on demand.

The question being put on the motion, it was - Resolved in the affirmative.

The Honourable Senator St. Germain moved, - THAT, pursuant to Rule 89, the Chairman be authorized to hold meetings, to receive and authorize the printing of the evidence when a quorum is not present.

The question being put on the motion, it was- Resolved in the affirmative.

The Honourable Senator Simard moved, - THAT, pursuant to rule 104, the Chairman be authorised to report expenses incurred by the Committee in the last session.

The question being put on the motion, it was - Resolved in the affirmative.

The Honourable Senator Angus moved, - THAT the Committee ask the Library of Parliament to assign a research officer to the Committee; and THAT the Chairman, on behalf of the Committee, direct the research staff in the preparation of studies, analyses and summaries.

The question being put on the motion, it was - Resolved in the affirmative.

The Honourable Senator St. Germain moved, - THAT, pursuant to section 32 of the Financial Administration Act, authority to commit funds be conferred on the Chairman or in his absence, the Deputy Chairman; and THAT, pursuant to section 34 of the Financial Administration Act, and Guideline 3:05 of Appendix II of the Rules of the Senate, authority for certifying accounts payable by the Committee be conferred on the Chairman, the Deputy Chairman, and the Clerk of the Committee.

The question being put on the motion, it was - Resolved in the affirmative.

The Honourable Senator Angus moved, - THAT, pursuant to the Senate guidelines for witnesses expenses, the Committee may reimburse reasonable travelling and living expenses for no more than two witnesses from any one organization and payment will take place upon application.

The question being put on the motion, it was - Resolved in the affirmative.

The Committee then proceeded in camera to discuss future business.

At 11:00 a.m., the Committee adjourned to the call of the Chair.

ATTEST:

OTTAWA, Tuesday, March 26, 1996
(2)

The Standing Senate Committee on Banking, Trade and Commerce met this day, at 10:03 a.m., in Room 505, Victoria Building, the Chairman, the Honourable Michael Kirby, presiding.

Members of the Committee present: The Honourable Senators Angus, Kenny, Kirby, Kolber, Meighen, St. Germain, P.C. and Simard. (7)

Other Senator present: The Honourable Senator Ghitter.

In attendance: From the Research Branch of the Library of Parliament: Mr. Gerald Goldstein, Director, Economics Division.

Also present: The official reporters of the Senate.

WITNESSES:

From the Bank of Canada:

Mr. Gordon Thiessen, Governor; and

Mr. W. Paul Jenkins, Deputy Governor.

Pursuant to the Order of Reference adopted by the Senate on Thursday, March 21, 1996, the Committee resumed its examination into the state of the financial system in Canada.

Mr. Thiessen made an opening statement and then along with Mr. Jenkins answered questions.

At 12:00 p.m., the committee adjourned to the call of the Chair.

ATTEST:

OTTAWA, Tuesday, March 26, 1996
(3)

The Standing Senate Committee on Banking, Trade and Commerce met this day, in camera, at 5:55 p.m., in Room 256-S, Centre Block, the Chairman, the Honourable Michael Kirby, presiding.

Members of the Committee present: The Honourable Senators Angus, Hervieux-Payette, P.C., Kirby, Kolber, St. Germain, P.C. and Simard. (6)

In attendance: From the Research Branch of the Library of Parliament: Mr. Gerald Goldstein, Director, Economics Division.

Pursuant to the Order of Reference adopted by the Senate on Thursday, March 21, 1996, the Committee resumed its examination into the state of the financial system in Canada.

The committee reviewed a draft report on Crown financial institutions.

At 7:05 p.m., the committee adjourned to the call of the Chair.

ATTEST:

Paul Benoit

Clerk of the Committee