BANC - Standing Committee

Banking, Commerce and the Economy

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37-1 37th Parliament, 1st Session (January 29, 2001 - September 16, 2002)
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Proceedings of the Standing Senate Committee on
Banking, Trade and Commerce

Issue 1 - Minutes of Proceedings

OTTAWA, Wednesday, February 21, 2001
(1)

[English]

The Standing Senate Committee on Banking, Trade and Commerce met at 4:30 p.m. this day, in Room 505, Victoria Building, for the purpose of organization.

Members of the committee present: The Honourable Senators Angus, Furey, Hervieux-Payette, P.C., Kelleher, P.C., Kolber, Kroft, Meighen, Oliver, Poulin, Setlakwe, Tkachuk and Wiebe (12).

In attendance: Mr. Stephen L. Harris, and from the Parliamentary Research Branch, Library of Parliament, Economics Division: Mr. Alexandre Laurin, Research Officer, Mr. Marion Wrobel, Senior Analyst.

Also in attendance: The official reporters of the Senate.

Pursuant to Rule 88, the Clerk of the committee presides over the election of the Chair.

The Honourable Senator Tkachuk moved that the Honourable Senator Kolber be Chair of the committee.

The question being put on the motion, it was resolved in the affirmative.

The Honourable Senator Kolber moved that the Honourable Senator Tkachuk be Deputy Chair of the committee.

The question being put on the motion, it was resolved in the affirmative.

The Honourable Senator Kolber moved that the Subcommittee on Agenda and Procedure be composed of the Chair, the Deputy Chair and one other member of the committee, to be designated after the usual consultation; and

That the Subcommittee be empowered to make decisions on behalf of the committee with respect to its agenda, to invite witnesses and schedule hearings.

The question being put on the motion, it was resolved in the affirmative.

The Honourable Senator Tkachuk moved that the committee print its proceedings; and

That the Chair be authorized to set the number to meet demand.

The question being put on the motion, it was resolved in the affirmative.

The Honourable Senator Angus moved that, pursuant to Rule 89, the Chair be authorized to hold meetings, to receive and authorize the printing of the evidence when a quorum is not present, provided that a member of the committee from both the government and the opposition is present.

The question being put on the motion, it was resolved in the affirmative.

The Honourable Senator Oliver, moved that, pursuant to Rule 104, the Chair be authorized to report expenses incurred by the Committee during the last session.

The question being put on the motion, it was resolved in the affirmative.

The Honourable Senator Hervieux-Payette, P.C, moved that the committee ask the Library of Parliament to assign research officers to the committee;

That the Chair be authorized to seek authority from the Senate to engage the services of such counsel and technical, clerical, and other personnel as may be necessary for the purpose of the committee's examination and consideration of such bills, subject-matters of bills, and estimates as are referred to it;

That the Subcommittee on Agenda and Procedure be authorized to retain the services of such experts as may be required by the work of the committee; and

That the Chair, on behalf of the committee, direct the research staff in the preparation of studies, analyses, summaries and draft reports.

The question being put on the motion, it was resolved in the affirmative.

The Honourable Senator Kroft moved that, pursuant to section 32 of the Financial Administration Act, authority to commit funds be conferred individually on the Chair, the Deputy Chair, and the Clerk of the Committee; and

That, pursuant to section 34 of the Financial Administration Act, and Guideline 3:05 of Appendix II of the Rules of the Senate, authority for certifying accounts payable by the committee be conferred individually on the Chair, the Deputy Chair, and the Clerk of the Committee.

The question being put on the motion, it was resolved in the affirmative.

The Honourable Senator Furey, that the committee empower the Subcommittee on Agenda and Procedure to designate, as required, one or more members of the committee and/or such staff as may be necessary to travel on assignment on behalf of the committee; and 

That the Subcommittee on Agenda and Procedure be authorized to: 

1) determine whether any member of the committee is on "official business" for the purposes of paragraph 8(3)(a) of the Senators Attendance Policy, published in the Journals of the Senate on Wednesday, June 3, 1998; and 

2) consider any member of the committee to be on "official business" if that member is: (a) attending a function, event or meeting related to the work of the committee; or (b) making a presentation related to the work of the committee.

The question being put on the motion, it was resolved in the affirmative.

The Honourable Senator Meighen moved that, pursuant to the Senate guidelines for witnesses expenses, the committee may reimburse reasonable travelling and living expenses for one witness from any one organization and payment will take place upon application, but that the Chair be authorized to approve expenses for a second witness should there be exceptional circumstances.

The question being put on the motion, it was resolved in the affirmative.

The Honourable Senator Poulin moved that the Chair be authorized to seek permission from the Senate to permit coverage by electronic media of its public proceedings with the least possible disruption of its hearings; and

That the Subcommittee on Agenda and Procedure be empowered to allow such coverage at its discretion.

The question being put on the motion, it was resolved in the affirmative.

The committee continued its deliberation in camera.

It was agreed that the committee authorize the Chair to request from the Senate that the papers and evidence received and taken by the Standing Senate Committee on Banking, Trade and Commerce during its study of Bill S-19, An Act to amend the Canada Business Corporations Act and the Canada Cooperatives Act and to amend other Acts in consequence, in the Second Session of the Thirty-sixth Parliament be referred to the committee for its present study of Bill S-11.

It was agreed that the Standing Senate Committee on Banking, Trade and Commerce be authorized to examine and report upon the present state of the domestic and international financial system;

That the papers and evidence received and taken on the subject during the First and Second Sessions of the Thirty-sixth Parliament and any other relevant Parliamentary papers and evidence on the said subject be referred to the committee;

That the committee be empowered to permit coverage by electronic media of its public proceedings with the least possible disruption of its hearings;

That, notwithstanding usual practices, the committee be permitted to deposit an interim report on the said subject with the Clerk of the Senate, if the Senate is not sitting, and that the said report shall thereupon be deemed to have been tabled in the chamber; and

That the committee submit its final report no later than March 31, 2002.

It was agreed that the committee approve the following proposed budget for the fiscal year ending March 31, 2001, and that the Chair be authorize to present the said budget to the Committee on Internal Economy, Budgets and Administration.

 

Summary of expenditures  
Professional & Other Services

$6,000
Transportation & communications

$2,000
Other Expenditures

 $2,000
TOTAL

 $10,000

That in accordance the Procedural Guidelines for the Financial Operation of Senate Committees, the committee authorize the Chair to seek authorization to incur expenses not exceeding $10,000.

At 5:20 p.m., the committee adjourned to the call of the Chair.

ATTEST:

OTTAWA,Thursday, March 1, 2001
(2)

[English]

The Standing Senate Committee on Banking, Trade and commerce met at 11:00 a.m. this day, in Room 505, Victoria, Building, the Chairman, the Honourable Senator Kolber, presiding.

Members of the committee present: The Honourable Senators Banks, Kelleher, P.C., Kolber, Maheu, Meighen, Oliver, Setlakwe and Tkachuk (8).

In attendance: Mr. Stephen L. Harris, and from the Parliamentary Research Branch, Library of Parliament, Law and Government Division: Mr. Geoff Kieley, Research Officer.

Also in attendance: The official reporters of the Senate.

WITNESSES:

From Industry Canada:

Lee Gill, Director, Corporate Law Policy, Corporate Governance Branch;

Robert Weist, Director, Compliance Branch, Corporations Directorate;

Veronica Wessels, A/Senior Project Leader, Corporate Law Policy, Corporate Governance Branch;

Irving Miller, Senior Counsel, Department of Justice;

Paul Martel, Partner, Fasken, Martineau, duMoulin, Barristers and Solicitors;

Wayne Lennon, Senior Policy Analyst, Corporate Law Policy, Corporate Governance Branch.

Pursuant to the Order of Reference adopted by the Senate on Wednesday, February 21, 2001, the committee began its examination of Bill S-11, An Act to amend the Canada Business Corporations Act and the Canada Cooperatives Act and to amend other Acts in consequence.

Mr. Gill made a statement and with the other witnesses answered questions.

At 12:00 p.m., the committee adjourned to the call of the Chair.

ATTEST:

Denis Robert

Clerk of the Committee