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

Issue 25 - Thirteenth Report of the Committee

Thursday, September 25, 2003

The Standing Senate Committee on Banking, Trade and Commerce has the honour to present its

THIRTEENTH REPORT

Your Committee, which was authorized by the Senate on Tuesday, October 29, 2002, to examine and report on the administration and operation of the Bankruptcy and Insolvency Act and the Companies' Creditors Arrangement Act; respectfully requests approval of additional funds for 2003-2004.

Pursuant to Section 2:07 of the Procedural Guidelines for the Financial Operation of Senate Committees, the budget submitted to the Standing Committee on Internal Economy, Budgets and Administration and the report thereon of that Committee are appended to this report.

Respectfully submitted,

RICHARD H. KROFT

Chair

STANDING SENATE COMMITTEE ON BANKING, TRADE AND COMMERCE

SPECIAL STUDY — BANKUPTCY AND INSOLVENCY

APPLICATION FOR BUDGET AUTHORIZATION
FOR THE PERIOD ENDING DECEMBER 18, 2003

Extract from the of Journals of the Senate of October 29, 2002:

The Honourable Senator Kolber moved, seconded by the Honourable Senator Bacon:

That in accordance with the provisions contained in section 216 of the Bankruptcy and Insolvency Act and in section 22 of the Companies' Creditors Arrangement Act, the Standing Senate Committee on Banking, Trade and Commerce be authorized to examine and report on the administration and operation of the Bankruptcy and Insolvency Act and the Companies' Creditors Arrangement Act; and

That the Committee submit its final report no later than June 19, 2003.

The question being put on the motion, it was adopted.

Extract from the of Journals of the Senate of May 15, 2003:

Resuming debate on the motion of the Honourable Senator Kolber, seconded by the Honourable Senator Rompkey, P.C.:

That the date for the presentation by the Standing Senate Committee on Banking, Trade and Commerce of the final report on its study on the administration and operation of the Bankruptcy and Insolvency Act and the Companies' Creditors Arrangement Act, which was authorized by the Senate on October 29, 2002, be extended to Thursday, December 18, 2003.

After debate,

The question being put on the motion, it was adopted.

Paul C. Bélisle

Clerk of the Senate

SUMMARY OF EXPENDITURES

The Standing Committee on Banking, Trade and Commerce approved the above budget on ______________

The undersigned or an alternate will be in attendance on the date that this Budget is considered.

________        ____________________________________________________________________
Date                 Chair, Standing Senate Committee on Banking, Trade and Commerce

________        ____________________________________________________________________
Date                 Chairman, Standing Senate Committee on Internal Economy, Budgets and Administration

EXPLANATION OF BUDGET ITEMS

PROFESSIONAL AND SPECIAL SERVICES

TRANSPORTATION AND COMMUNICATIONS

ALL OTHER EXPENDITURES

The Senate Administration has reviewed this budget application.

_______________________________________                        ________________
Heather Lank                                                                                 Date
Director of Committees and Private Legislation

_______________________________________                        ________________
Hélène Lavoie                                                                                 Date
Director of Finance

APPENDIX (B) TO THE REPORT

Thursday, September 25, 2003

The Standing Committee on Internal Economy, Budgets and Administration has examined the budget presented to it by the Standing Senate Committee on Banking, Trade and Commerce for the proposed expenditures of the said Committee for the fiscal year ending March 31, 2004 for the purpose of its Special Study on Bankruptcy and Insolvency, as authorized by the Senate on Tuesday, October 29, 2002 and Thursday, May 15, 2003. The said budget is as follows:

Respectfully submitted,

LISE BACON

Chair