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

Issue 8 - Minutes of Proceedings

TORONTO, Tuesday, February 17, 1998
(13)

[English]

The Standing Senate Committee on Banking, Trade and Commerce met this day, at 8:00 a.m. in Rossetti Room, Delta Chelsea Inn, Toronto, the Chairman, the Honourable Michael Kirby, presiding.

Members of the committee present: The Honourable Senators Angus, Austin, P.C., Callbeck, Hervieux-Payette, P.C., Kelleher, P.C., Kirby, Oliver, St. Germain, P.C. and Tkachuk (9).

In attendance: From the Parliamentary Research Branch, Library of Parliament: Ms June Dewetering, Researcher, 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. Wayne Foster, Chief, Financial Sector Policy Branch;

Ms Tara Gray, Economist, Financial Sector Policy Branch; and

Mr. Doug Wyatt, General Counsel, General Legal Services.

From Keith P. Ambaschtsheer & Associates Inc.:

Mr. Keith Ambaschtsheer, President.

From Cortex Applied Research Inc.:

Mr. John Por, President.

From William M. Mercer Limited:

Mr. Malcolm Hamilton, Principal.

Pursuant to the Order of Reference adopted by the Senate on Thursday, February 12, 1998, the committee proceeded to study the governance provisions set out in the Canada Pension Plan Investment Board Act (previously Bill C-2).

Mr. Hamilton made an opening statement and then, along with Messrs Foster and Wyatt, answered questions.

Messrs Ambaschtsheer, Hamilton and Por made opening statements in turn and then answered questions.

At 11:40 a.m., the committee adjourned to the call of the Chair.

ATTEST:

TORONTO, Tuesday, February 17, 1998
(14)

[English]

The Standing Senate Committee on Banking, Trade and Commerce met this day, at 1:00 p.m. in Rossetti Room, Delta Chelsea Inn, Toronto, the Chairman, the Honourable Michael Kirby, presiding.

Members of the committee present: The Honourable Senators Austin, P.C., Callbeck, Hervieux-Payette, P.C., Kelleher, P.C., Kirby, St. Germain, P.C. and Tkachuk (7).

In attendance: From the Parliamentary Research Branch, Library of Parliament: Ms June Dewetering, Researcher, Economics Division.

Also present: The official reporters of the Senate.

WITNESSES:

From the Ontario Teachers Pension Plan Board:

Mr. Claude Lamoureux, President and Chief Executive Officer.

From the Ontario Municipal Employees Retirement Board:

Mr. Dale Richmond, President & Chief Executive Officer; and

Mr. G. Tom Gunn, Chief Investment Officer.

Pursuant to the Order of Reference adopted by the Senate on Thursday, February 12, 1998, the committee proceeded to study the governance provisions set out in the Canada Pension Plan Investment Board Act (previously Bill C-2).

Mr. Lamoureux made an opening statement and then answered questions.

Mr. Richmond made an opening statement and then, along with Mr. Gunn, answered questions.

At 3:05 p.m., the committee adjourned to the call of the Chair.

ATTEST:

Paul Benoit

Clerk of the Committee