Proceedings of the Standing Senate Committee on
Banking, Trade and
Commerce
Issue 50 - Minutes of Proceedings
OTTAWA, Tuesday, April 27, 1999
(100)
[English]
The Standing Senate Committee on Banking, Trade and Commerce met this day at 9:30 a.m. in Room 505, Victoria Building, the Acting Chairman, the Honourable Leo Kolber, presiding.
Members of the committee present: The Honourable Senators Angus, Callbeck, Kelleher, P.C., Kenny, Kolber and Meighen (6).
In attendance: From the Parliamentary Research Branch, Library of Parliament: Mr. Gerry Goldstein, Director Economics.
Also present: The official reporters of the Senate.
WITNESSES:
From the Capital Alliance Ventures Inc.:
Mr. Denzil Doyle.
From Alberta Capital Market Foundation:
Mr. John Cranston, Chairman.
Pursuant to the Order of Reference adopted by the Senate on Wednesday, October 22, 1997, the committee resumed its examination into the state of the financial system in Canada and in particular its study of the Equity Financing. (See Issue No. 1, October 23, 1997, for the full text of the Order of Reference.)
Mr. Doyle made an opening statement and then answered questions.
Mr. Cranston made an opening statement and then answered questions.
At 11:10 a.m., the committee adjourned to the call of the Chair.
ATTEST:
TORONTO, Wednesday, April 28, 1999
(101)
[English]
The Standing Senate Committee on Banking, Trade and Commerce met this day at 9:00 a.m. in Wesley Room, Sutton Place Hotel, Toronto, the Chair, the Honourable Michael Kirby, presiding.
Members of the committee present: The Honourable Senators Angus, Hervieux-Payette, P.C., Kelleher, P.C., Kenny, Kirby, Kolber, Kroft and Meighen (8).
In attendance: From the Parliamentary Research Branch, Library of Parliament: Mr. Gerry Goldstein, Director Economics Division.
Also present: The official reporters of the Senate.
WITNESSES:
On the examination of the present state of the financial system in Canada
From the Faculty of Law of the University of Toronto:
Professor Jeffrey G. MacIntosh.
From Macdonald & Associates:
Ms Mary Macdonald, President.
From the Canadian Federation of Independent Business:
Mr. Brien Gray, Senior Vice-President, Legislative Policy.
From CastleHill Ventures:
Mr. Barrie Laver, Managing Partner.
From Priveq Capital Fund:
Mr. Brad Ashley, Managing Director.
From Mosaic Venture Partner:
Mr. Vernon Lobo, Managing Director.
Pursuant to the Order of Reference adopted by the Senate on Wednesday, October 22, 1997, the committee resumed its examination into the state of the financial system in Canada and in particular its study of the equity financing. (See Issue No. 1, October 23, 1997, for the full text of the Order of Reference.)
Professor MacIntosh made an opening statement and then answered questions.
Ms Macdonald made an opening statement and then answered questions.
Mr. Gray made an opening statement and then answered questions.
Mr. Laver made an opening statement and then answered questions.
Mr. Ashley made an opening statement and then answered questions.
Mr. Lobo made an opening statement and then answered questions.
At 12:15 p.m., the committee adjourned to the call of the Chair.
ATTEST:
TORONTO, Wednesday, April 28, 1999
(102)
[English]
The Standing Senate Committee on Banking, Trade and Commerce met this day at 2:00 p.m. in Wesley Room, Sutton Place Hotel, Toronto, the Chairman, the Honourable Michael Kirby, presiding.
Members of the committee present: The Honourable Senators Angus, Hervieux-Payette, P.C., Kelleher, P.C., Kenny, Kirby, Kolber, Kroft and Meighen (8).
In attendance: From the Parliamentary Research Branch, Library of Parliament, Mr. Gerry Goldstein, Director Economics Division.
Also present: The official reporters of the Senate.
WITNESSES:
On the examination of the present state of the financial system in Canada:
From XDL Capital:
Mr. David Latner, Counsel.
From Sharwood and Company:
Mr. Gordon Sharwood, Chairman.
On Bill S-18:
From the Alliance of Manufacturers & Exporters Canada:
Mr. Gary Graham, Past President;
Mr. Paul Nykanen, Acting President;
Ms Michele Ballagh.
Pursuant to the Order of Reference adopted by the Senate on Wednesday, October 22, 1997, the committee resumed its examination into the state of the financial system in Canada and in particular its study of the equity financing. (See Issue No. 1, October 23, 1997, for the full text of the Order of Reference. )
Mr. Latner made an opening statement and then answered questions.
Mr. Sharwood made an opening statement and then answered questions.
At 3:40 p.m., pursuant to the Order of Reference adopted by the Senate on Tuesday, April 20, 1999, the committee proceeded to study Bill S-18, An Act respecting the Alliance of Manufacturers & Exporters Canada.
Mr. Graham made an opening statement and then, along with Mr. Nykanen, answered questions.
The Honourable Senator Kelleher abstained from participating in deliberations on this bill.
The Law Clerk having confirmed that the bill was in due legislative form it was agreed, -- That Bill S-18 be adopted and reported to the Senate without amendment. (Exhibit 5900 B1/SS-1, 50 "1").
At 3:50 p.m., the committee adjourned to the call of the Chair.
ATTEST:
Gary Levy
Clerk of the Committee