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

Issue 25 - Minutes of Proceedings

OTTAWA, Thursday, April 17, 1997
(47)

[English]

The Standing Senate Committee on Banking, Trade and Commerce met this day at 11:05 a.m. in room 505, Victoria Building, the Chairman, the Honourable Michael Kirby, presiding.

Members of the committee present: The Honourable Senators Angus, Austin, P.C., Hervieux-Payette, P.C., Kelleher, P.C., Kirby and Oliver (6).

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 Department of Finance:

Mr. Bob Hamilton, Assistant Deputy Minister, Financial Sector Policy Branch;

Mr. Frank Swedlove, Director, Finance Sector Division;

Ms Annette Gibbons, Policy Analyst, Finance Sector Division; and

Mr. Claude Gingras, Special Advisor, Finance Sector Division.

From the Office of the Superintendent of Financial Institutions:

Mr. André Brossard, Director, Legislation and Precedents Division.

Pursuant to the Order of Reference adopted by the Senate on Wednesday, April 16, 1997, the committee proceeded to study Bill C-82, An Act to amend certain laws relating to financial institutions.

At the start of the meeting Senator Kelleher declared a conflict of interest and subsequently abstained from voting on the bill.

Mr. Hamilton made an opening statement and then, along with Ms Gibbons and Messrs Swedlove, Gingras and Brossard, answered questions.

It was agreed, -- THAT Bill C-82 be adopted and reported to the Senate without amendment.

It was agreed, -- THAT all committee members who participated in the Harmonized Sales Tax hearings would have until Tuesday, April 22nd to comment on a draft report of the concerns raised during those hearings; after which time the report would be presented in the Chamber.

At 12:25 p.m. the committee adjourned to the call of the Chair.

ATTEST:

Paul Benoit

Clerk of the Committee