FINA Committee Report

MINUTES OF PROCEEDINGS

Wednesday, March 19, 2003

(Meeting No. 48)

The Standing Committee on Finance met in camera at 3:43 p.m. this day, in Room 306, West Block, the Chair, Sue Barnes, presiding.

Members of the Committee present: Sue Barnes, Roy Cullen, Nick Discepola, Richard Harris, Sophia Leung, The Hon. Maria Minna, Shawn Murphy, Pauline Picard, Tony Valeri, Bryon Wilfert.

Acting Member present: Jim Peterson for Gary Pillitteri.

In attendance: From the Library of Parliament: June Dewetering, Acting Principal Analyst; Marc-André Pigeon, Analyst; Blayne Haggart, Analyst.

Pursuant to Standing Order 108(2), the Committee resumed its study on the public interest implications of large bank mergers.

The Committee resumed consideration of the draft report.

It was agreed, —  That the draft report be adopted, as amended, as the Third Report of the Committee.

It was agreed, — That the title of the report be:

LARGE BANK MERGERS IN CANADA: SAFEGUARDING THE PUBLIC INTEREST FOR CANADIANS AND CANADIAN BUSINESSES.

It was agreed, — That, pursuant to Standing Order 109, the Committee request that the Government table a comprehensive response to the report; however, notwithstanding the deadline of 150 days stipulated in Standing Order 109, the Committee request that the comprehensive response to this report be tabled within 90 days of the presentation of the report to the House.

It was agreed, — That the Committee append to its report the dissenting or supplementary opinions immediately after the signature of the Chair provided that they are no more than 2 pages in length and submitted electronically to the clerk of the Committee, no later than Friday, March 21, 2003 at 3:00 p.m.

It was agreed, — That the Chair, analysts and clerk be authorized to make such typographical and editorial changes as may be necessary without changing the substance of the report.

It was agreed, — That the Chair be instructed to present the Third Report of the Committee to the House.

It was agreed, — That the Committee print 500 copies of the report in a bilingual format.

The Committee proceeded to the consideration of matters related to Committee business.

At 5:58 p.m., the Committee proceeded to sit in public.

Pursuant to Standing Order 106(4), the Committee proceeded to the consideration of the request by Richard Harris, Charlie Penson, Pierre Paquette and Judy Wasylycia-Leis in relation to the appearance of the Minister of Finance.

After debate, the question was put on the request and it was negatived on the following recorded decision:

Yeas (2): Richard Harris, Pauline Picard.

Nays (7): Roy Cullen, Nick Discepola, Sophia Leung, The Hon. Maria Minna, Shawn Murphy, Jim Peterson, Tony Valeri.

At 6:00 p.m., the Committee adjourned to the call of the Chair.

Richard Dupuis
Clerk of the Committee