HOUSE OF COMMONS OF CANADA
37^TH PARLIAMENT, 1^st SESSION

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JOURNALS

No. 037

Tuesday, March 27, 2001

10:00 a.m.

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PRAYERS

DAILY ROUTINE OF BUSINESS

Tabling of Documents

Pursuant to Standing Order 32(2), Mr. Lee (Parliamentary Secretary to the Leader of the Government in the House of Commons) laid upon the Table, -- Government response, pursuant to Standing Order 36(8), to the following petition:

-- No. 371-0059 concerning health care services. -- Sessional Paper No. 8545-371-3-06.

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Pursuant to Standing Order 32(2), Mr. Finlay (Parliamentary Secretary to the Minister of Indian Affairs and Nothern Development) laid upon the Table, -- Document entitled ``Agreement with respect to Kanesatake Governance of the Interim Land Base''. -- Sessional Paper No. 8525-371-3.

Presenting Reports from Inter-parliamentary Delegations

Pursuant to Standing Order 34(1), Mrs. Parrish (Mississauga Centre) presented the Report of the Canadian NATO Parliamentary Association respecting its participation at the joint meeting of the Defence and Security Committee, the Economic Committee and the Political Committee, held in Brussels and Paris, from February 17 to 21, 2001. -- Sessional Paper No. 8565-371-50-02.

Introduction of Private Members' Bills

Pursuant to Standing Orders 68(2) and 69(1), on motion of Mr. Williams (St. Albert), seconded by Mr. Bailey (Souris -- Moose Mountain), Bill C-308, An Act to provide for evaluations of statutory programs, was introduced, read the first time, ordered to be printed and ordered for a second reading at the next sitting of the House.

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Pursuant to Standing Orders 68(2) and 69(1), on motion of Mr. Johnston (Wetaskiwin), seconded by Mr. Epp (Elk Island), Bill C-309, An Act to provide for the settlement of labour disputes affecting west coast ports by final offer arbitration, was introduced, read the first time, ordered to be printed and ordered for a second reading at the next sitting of the House.

Presenting Petitions

Pursuant to Standing Order 36, a petition certified correct by the Clerk of Petitions was presented as follows:

-- by Mr. Stoffer (Sackville -- Musquodoboit Valley -- Eastern Shore), concerning genetic engineering (No. 371-0114).

GOVERNMENT ORDERS

The Order was read for the consideration at report stage of Bill C-8, An Act to establish the Financial Consumer Agency of Canada and to amend certain Acts in relation to financial institutions, as reported by the Standing Committee on Finance with an amendment.

Pursuant to Standing Order 76.1(5), the Speaker selected and grouped for debate the following motions:

Group No. 1 -- Motions Nos. 1, 8, 12 and 13.

Group No. 2 -- Motions Nos. 2, 9 to 11 and 14.

Group No. 3 -- Motions Nos. 3 to 7.

Group No. 1

Mr. Harris (Prince George -- Bulkley Valley), seconded by Mr. Epp (Elk Island), moved Motion No. 1, -- That Bill C-8, in Clause 5, be amended by replacing lines 14 to 16 on page 5 with the following:

``and report, subject to section 17, to the House of Commons from time to time on all matters connected with the administration of this Act, which stands permanently referred to the Standing Committee on Finance, and of the consumer provisions''

Mr. Nystrom (Regina -- Qu'Appelle), seconded by Mr. Stoffer (Sackville -- Musquodoboit Valley -- Eastern Shore), moved Motion No. 8, -- That Bill C-8, in Clause 84, be amended by replacing line 27 on page 39 with the following:

``made.

(4) Except in the case where an amalgamation is the result of one or more of the applicants not being financially sound, an amalgation must be approved by a resolution of the House of Commons supported by a majority of the members of that House and a resolution of the Senate supported by a majority of the members of that House.''

Mr. Nystrom (Regina -- Qu'Appelle), seconded by Mr. Stoffer (Sackville -- Musquodoboit Valley -- Eastern Shore), moved Motion No. 12, -- That Bill C-8, in Clause 183, be amended by adding after line 44 on page 367 the following:

``978.1 On the expiration of one year after the coming into force of this Act, and on the expiration of every year thereafter, all regulations made in the previous year by the Governor in Council under this Act shall stand referred to such committee of the House of Commons, of the Senate or of both Houses of Parliament as may be designated or established for that purpose and the committee shall, as soon as practicable thereafter, undertake a comprehensive review of such regulations and shall, within one month after the review is undertaken or within such further time as the House of Commons may authorize, submit a report thereon to Parliament including any recommendations pertaining to the object, impact or necessity of such regulations or any other aspects thereof that the committee deems appropriate.''

Mr. Harris (Prince George -- Bulkley Valley), seconded by Mr. Epp (Elk Island), moved Motion No. 13, -- That Bill C-8, in Clause 244, be amended by replacing line 9 on page 408 with the following:

``effect of the designation. The Minister must also provide in writing:

(a) a statement of the reasons why, in the opinion of the Minister, it is in the public interest to designate a payment system;

(b) the process by which consultation of the manager, the participants, and other interested parties who could be affected by the designation can take place, including how the Minister's concerns can be addressed;

(c) a statement to the effect that where a system fails to adequately address a Minister's concerns, the Governor in Council may designate a payment system.''

Debate arose on the motions in Group No. 1.

The question was put on Motions No. 1, 8, 12 and 13 and, pursuant to Standing Order 76.1(8), the recorded divisions were deferred.

Group No. 2

Mr. Nystrom (Regina -- Qu'Appelle), seconded by Mr. Stoffer (Sackville -- Musquodoboit Valley -- Eastern Shore), moved Motion No. 2, -- That Bill C-8, in Clause 19, be amended by replacing line 15 on page 11 with the following:

``committed by a natural person, and $500,000''

Mr. Loubier (Saint-Hyacinthe -- Bagot), seconded by Ms. Picard (Drummond), moved Motion No. 9, -- That Bill C-8, in Clause 98, be amended by replacing lines 24 to 26 on page 62 with the following:

``out by the affiliates of the bank;

(h) the best interests of the financial system in Canada; and

(i) the impact of the transaction on the security and soundness of the bank, on direct and indirect employment at the head office and branch offices of the bank, particularly professional and specialized positions, on the location of the centre of decision making and management of the bank, on the needs of consumers, on the business and activities of the bank, and on the future prospects of the bank in world markets, the best interests of Canadians and, where the bank operates principally in one region, the best interests of those living in that region.''

Mr. Nystrom (Regina -- Qu'Appelle), seconded by Mr. Stoffer (Sackville -- Musquodoboit Valley -- Eastern Shore), moved Motion No. 10, -- That Bill C-8, in Clause 113, be amended by replacing line 21 on page 72 with the following:

``tail deposit account available to each customer for a monthly fee of 3 dollars and that has the prescribed''

Mr. Nystrom (Regina -- Qu'Appelle), seconded by Mr. Stoffer (Sackville -- Musquodoboit Valley -- Eastern Shore), moved Motion No. 11, -- That Bill C-8, in Clause 125, be amended by replacing line 14 on page 79 with the following:

``on either of those activities. For greater certainty, the closing of the branch can only take place for reasons of financial non-profitability.''

Mr. Harris (Prince George -- Bulkley Valley), seconded by Mr. Epp (Elk Island), moved Motion No. 14, -- That Bill C-8, in Clause 314, be amended by replacing lines 32 to 36 on page 478 with the following:

``entity,

(ii) the association is permitted by regulations made under paragraph 396(a) to acquire or increase the substantial investment; or

(iii) the entity is an association and the investment is not restricted by regulations made pursuant to paragraph 396(d);''

Debate arose on the motions in Group No. 2.

The question was put on Motions No. 2, 9 to 11 and 14 and, pursuant to Standing Order 76.1(8), the recorded divisions were deferred.

Group No. 3

Mr. Loubier (Saint-Hyacinthe -- Bagot), seconded by Ms. Picard (Drummond), moved Motion No. 3, -- That Bill C-8 be amended by adding after line 20 on page 28 the following new clause:

``54.1 Subsection 46(2) of the Act is replaced by the following:

(2) The shareholders of a bank shall, by resolution at the meeting of shareholders called pursuant to subsection (1),

(a) approve, amend or reject any by-law made by the directors of the bank;

(b) subject to section 168, elect directors to hold office for a term expiring not later than the close of the third annual meeting of shareholders following the election;

(c) appoint an auditor or auditors to hold office until the close of the first annual meeting of shareholders; and

(d) adopt a code of internal procedure respecting the conduct of meetings of shareholders.''

Mr. Loubier (Saint-Hyacinthe -- Bagot), seconded by Ms. Picard (Drummond), moved Motion No. 4, -- That Bill C-8, in Clause 63, be amended by replacing lines 21 to 33 on page 31 with the following:

``63. Subsection 138(1) of the Act is replaced by the following:

138. (1) Notice of the time and place of a meeting of shareholders of a bank and the complete minutes of the last meeting of shareholders, whether that meeting was an annual or a special meeting, shall be sent not less than twenty-one days or more than fifty days before the meeting,

(a) to each shareholder entitled to vote at the meeting;

(b) to each director; and

(c) to the auditor or auditors of the bank.

(1.1) A bank with equity of five billion dollars or more shall set out in the notice of a meeting the number of eligible votes, as defined under subsection 156.09(1), that may be cast at the meeting as of the record date for determining those shareholders entitled to receive the notice of meeting or, if there are to be separate votes of shareholders at the meeting, the number of eligible votes, as defined in that subsection, in respect of each separate vote to be held at the meeting.''

Ms. Picard (Drummond), seconded by Mr. Loubier (Saint-Hyacinthe -- Bagot), moved Motion No. 5, -- That Bill C-8, in Clause 65, be amended by replacing line 6 on page 32 with the following:

``in whose names the shares are registered in the institution's registers and entitled to receive notice of a meeting under''

Mr. Loubier (Saint-Hyacinthe -- Bagot), seconded by Ms. Picard (Drummond), moved Motion No. 6, -- That Bill C-8 be amended by adding after line 33 on page 34 the following new clause:

``70.1 Section 160 of the Act is amended by striking out the word ``and'' at the end of paragraph (h) and by adding the following after paragraph (i):

(j) a person who is a director of another financial institution; and

(k) a person who has, directly or indirectly, an interest in the supply of products or services to the institution.''

Mr. Loubier (Saint-Hyacinthe -- Bagot), seconded by Ms. Picard (Drummond), moved Motion No. 7, -- That Bill C-8 be amended by adding after line 20 on page 35 the following new clause:

``71.1 The Act is amended by adding the following after section 161:

161.1 (1) The position of chairman shall be separate from the position of chief executive officer and shall not be held by the same person.

(2) For greater certainty, the role of the chairman shall be to ensure that the board of directors assesses the management of the institution, while the role of the chief executive officer shall be to manage the institution's day- to-day activities.''

Debate arose on the motions in Group No. 3.

MOTIONS

By unanimous consent, it was resolved, -- That the First Report of the Standing Joint Committee on Scrutiny of Regulations, presented on Wednesday, March 14, 2001, be concurred in.

GOVERNMENT ORDERS

The House resumed consideration at report stage of Bill C-8, An Act to establish the Financial Consumer Agency of Canada and to amend certain Acts in relation to financial institutions, as reported by the Standing Committee on Finance with an amendment;

And of the motions in Group No. 3 (Motions Nos. 3 to 7).

The debate continued on the motions in Group No. 3.

The question was put on Motions No. 3 to 7 and, pursuant to Standing Order 76.1(8), the recorded divisions were deferred.

Pursuant to Standing Order 76.1(8), the House proceeded to the taking of the deferred recorded divisions.

Pursuant to Standing Order 45, the recorded divisions were further deferred until Wednesday, March 28, 2001, at the expiry of the time provided for Government Orders.

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The Order was read for the second reading and reference to the Standing Committee on Finance of Bill C-22, An Act to amend the Income Tax Act, the Income Tax Application Rules, certain Acts related to the Income Tax Act, the Canada Pension Plan, the Customs Act, the Excise Tax Act, the Modernization of Benefits and Obligations Act and another Act related to the Excise Tax Act.

Mr. Thibault (Secretary of State (Atlantic Canada Opportunities Agency)) for Mr. Martin (Minister of Finance), seconded by Mr. Pagtakhan (Secretary of State (Asia-Pacific)), moved, -- That the Bill be now read a second time and referred to the Standing Committee on Finance.

Debate arose thereon.

STATEMENTS BY MEMBERS

Pursuant to Standing Order 31, Members made statements.

ORAL QUESTIONS

Pursuant to Standing Order 30(5), the House proceeded to Oral Questions.

GOVERNMENT ORDERS

The House resumed consideration of the motion of Mr. Martin (Minister of Finance), seconded by Mr. Pagtakhan (Secretary of State (Asia-Pacific)), -- That Bill C-22, An Act to amend the Income Tax Act, the Income Tax Application Rules, certain Acts related to the Income Tax Act, the Canada Pension Plan, the Customs Act, the Excise Tax Act, the Modernization of Benefits and Obligations Act and another Act related to the Excise Tax Act, be now read a second time and referred to the Standing Committee on Finance.

The debate continued.

TABLING OF DOCUMENTS

Pursuant to Standing Order 32(2), Mr. Boudria (Leader of the Government in the House of Commons) laid upon the Table, -- Copy of documents concerning the Grand-Mère Golf Course. -- Sessional Paper No. 8530-371-5.

GOVERNMENT ORDERS

The House resumed consideration of the motion of Mr. Martin (Minister of Finance), seconded by Mr. Pagtakhan (Secretary of State (Asia-Pacific)), -- That Bill C-22, An Act to amend the Income Tax Act, the Income Tax Application Rules, certain Acts related to the Income Tax Act, the Canada Pension Plan, the Customs Act, the Excise Tax Act, the Modernization of Benefits and Obligations Act and another Act related to the Excise Tax Act, be now read a second time and referred to the Standing Committee on Finance.

The debate continued.

PRIVATE MEMBERS' BUSINESS

At 5:30 p.m., pursuant to Standing Order 30(6), the House proceeded to the consideration of Private Members' Business.

Mr. Bergeron (Verchères -- Les-Patriotes), seconded by Mr. Sauvageau (Repentigny), moved, -- That a humble Address be presented to Her Excellency praying that she will intercede with Her Majesty to cause the British Crown to present an official apology to the Acadian people for the wrongs done to them in its name between 1755 and 1763. (Private Members' Business M-241)

Debate arose thereon.

Pursuant to Standing Order 93, the Order was dropped to the bottom of the order of precedence on the Order Paper.

GOVERNMENT ORDERS

At 6:30 p.m., pursuant to Order made Wednesday, March 21, 2001, Mr. Manley (Minister of Foreign Affairs) for Mr. Boudria (Leader of the Government in the House of Commons), seconded by Mr. Paradis (Parliamentary Secretary to the Minister of Foreign Affairs), moved, -- That this House take note of the Summit of the Americas. (Government Business No. 4)

Debate arose thereon.

MIDNIGHT

ADJOURNMENT

At 3:50 a.m., pursuant to Order made Wednesday, March 21, 2001, the Speaker adjourned the House until later today at 2:00 p.m., pursuant to Standing Order 24(1).