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

Issue 53 - Minutes of Proceedings

OTTAWA, Monday, May 31, 1999
(106)

[English]

The Standing Senate Committee on Banking, Trade and Commerce met this day at 4:00 p.m. in Room 705, Victoria Building, the Chairman, the Honourable Michael Kirby, presiding.

Members of the committee present: The Honourable Senators Andreychuk, Callbeck, Di Nino, Kelleher, P.C., Kirby, Kolber and Kroft (7).

In attendance: From the Parliamentary Research Branch, Library of Parliament, Mr. Marion Wrobel, Research Officer, Economics Division.

Also present: The official reporters of the Senate.

WITNESSES:

From the Department of Finance:

Mr. Munir Sheikh, Assistant Deputy Minister, Tax Policy Branch;

Mr. Leonard L. Farber, General Director, Legislation, Tax Policy Branch.

Pursuant to the Order of Reference adopted by the Senate on Thursday, May 13, 1999, the Committee proceeded to study Bill C-72, An act to amend the Income Tax Act, to implement measures that are consequential on changes to the Canada-U.S. Tax Convention (1980) and to amend the Income Tax Conventions Interpretation Act, the Old Age Security Act, the War Veterans Allowance Act and certain Acts related to the Income Tax Act.

Mr. Sheikh made an opening statement and then, along with Mr. Farber, answered questions.

It was agreed, -- That Bill C-72 be adopted and reported to the Senate without amendment.

At 5:00 p.m. the committee adjourned to the call of the Chair.

ATTEST:

Gary Levy

Clerk of the Committee