Honourable senators, thank you for your consent. When you gave it, you probably didn’t realize that I’m planning to speak for 45 minutes. That’s a joke, of course. I will be brief.

I am pleased to speak today at second reading of Bill S-1001, introduced by our colleague Senator Loffreda. I thank him for agreeing to sponsor this bill, which is of paramount importance to Gore Mutual and Beneva.

My remarks will be brief, as our colleague has already explained the nature of a Senate private bill, the purpose of this bill, the history of the two companies, their proposed merger and the need to pass this bill quickly in order to proceed with the merger.

As you know, private bills have become rather rare in this chamber and in the other place. However, this type of bill is still useful and relevant in very specific cases. In 2016, I had the opportunity to be the opposition critic for Bill S-1001, An Act to authorize La Capitale Financial Security Insurance Company to apply to be continued as a body corporate under the laws of the Province of Quebec. Senator Dawson was the sponsor at the time, but, when he fell ill, I agreed to wear both hats and serve as both opposition critic and sponsor at third reading of the bill. I’m very proud of that because I made history. Evidently, I’m no stranger to this type of bill.

Bill S-1001 is a good example of the need to proceed by way of a private bill. Since Gore Mutual is incorporated under the Insurance Companies Act, there is no legislative provision allowing it to be continued as a body corporate under the laws of Quebec.

I’d like to digress briefly to mention that it would be appropriate to look into the legislative loopholes that, for example, leave companies such as Gore Mutual and Beneva dependent on a private bill to achieve their ends. I just wanted to say that in passing.

In my view, the passage of this bill is a mere formality. We should be able to reach third reading in the Senate in a timely manner, in line with the interests of these two companies, which are very important to Canadians.

As Senator Loffreda pointed out, there is no controversy around this merger. On the contrary, this project has received considerable support from major players in the industry. If there is an issue, it has to do with timing, since the proposed merger between Gore Mutual and Beneva requires several steps to be taken over time, and Bill S-1001 is just one of them.

It is therefore with great pleasure and in a spirit of cooperation that I support Senator Loffreda’s efforts to ensure that Bill S-1001 is passed without delay. With that in mind, I urge you, honourable senators, to vote in favour of this bill at second reading so that it can be referred to committee without delay and studied as soon as possible.

Thank you.