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 - Report of the Committee

TUESDAY, March 19, 1996

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

FIRST REPORT

Your Committee, which was authorized by the Senate to incur expenses for the purpose of its examination and consideration of such legislation and other matters as were referred to it, reports, pursuant to Rule 104 of the Rules, that the expenses incurred by the Committee during the First Session of the Thirty-fifth Parliament are as follows:

With respect to its special study on the financial system in Canada in the wake of the major legislative and regulatory reform of 1992, authorized by the Senate on Thursday, February 24, 1994:

Professional and other services......................$9,646.07
Transportation and Communications................1,114.13
Miscellaneous........................................................0.00

TOTAL......................................................$10,760.20

An additional expenditure related to the work of your Committee, but paid from the budget of the Committees and Private Legislation Directorate, was incurred for witness expenses. This amount totalled $10,678.32.

During the session, your Committee held 65 meetings, considered 23 Orders of Reference and submitted 27 reports in relation to its work. Of these, two involved special studies related to financial institutions: one dealing with consumer protection and the other with the 1992 legislation.

Your Committee also examined 20 bills including C-2, An Act to amend the Department of National Revenue Act and to amend certain other Acts in consequence thereof; C-5, An Act to amend the Custom Tariff; C-9, An Act to amend the Income Tax Act; C-11, An Act to amend the Excise Tax Act, the Customs Act, and the Tobacco Sales to young Persons Act; C-12, An Act to amend the Canada Business Corporations Act and to make consequential amendments to other Acts; C-13, An Act to amend the Excise Tax Act and a related Act; C-15, An Act to revise certain income tax law amendments in terms of the revised Income Tax Act and Income Tax Application Rules; C-27, An Act to amend the Income Tax Act, the Income Tax Application Rules, the Canada Pension Plan, the Canada Business Corporation Act, the Excise Tax Act, the Unemployment Insurance Act and certain related Act; C-46, An Act to establish the Department of Industry and to amend and repeal certain other Acts; C-59, An Act to amend the Income Tax Act and the Income Tax Application Rules; C-70, An Act to amend the Income Tax Act, the Income Tax Application Rules and related Acts; C-90, An Act to amend the Excise Tax Act and the Excise Act; C-91, An Act to continue the Federal Business Development Bank under the name Business Development Bank of Canada; C-93, An Act to amend the Cultural Property Export and Import Act, the Income Tax Act and the Tax Court of Canada Act; C-99, An Act to amend the Small Business Loans Act; C-102, An Act to amend the Customs Act and the Customs Tariff and to make related and consequential amendments to other Acts; C-103, An Act to amend the Excise Tax and the Income Tax Act; C-105, An Act to implement a convention between Canada and the Republic of Latvia, a convention between Canada and the Republic of Estonia, a convention between Canada and the Republic of Trinidad and Tobago and a protocol between Canada and the Republic of Hungary, for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income; S-2, An Act to implement a convention between Canada and the Republic of Hungary, an agreement between Canada and the Federal Republic of Nigeria, an agreement between Canada and the Republic of Zimbabwe, a convention between Canada and the Argentine Republic and a protocol between Canada and the Kingdom of the Netherlands for the avoidance of double taxation and the prevention of fiscal evasion with respect to income taxes and to make related amendments to other Acts; S-9 An Act to amend the Canada-United States Tax Convention Act, 1984; and Regulations proposed to the Export Development Act.

Respectfully submitted,

MICHAEL KIRBY

Chairman