BANKING, TRADE and COMMERCE BANQUES ET DU COMMERCE the Honourable W

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BANKING, TRADE and COMMERCE BANQUES ET DU COMMERCE the Honourable W Second Session Deuxième session de la Thirty-ninth Parliament, 2007-08 trente-neuvième législature, 2007-2008 SENATE OF CANADA SÉNAT DU CANADA Proceedings of the Standing Délibérations du Comité Senate Committee on sénatorial permanent des Banking, Trade Banques et and Commerce du commerce Chair: Président : The Honourable W. DAVID ANGUS L'honorable W. DAVID ANGUS Wednesday, April 16, 2008 Le mercredi 16 avril 2008 Thursday, April 17, 2008 Le jeudi 17 avril 2008 Issue No. 16 Fascicule no 16 Seventh and eighth meetings on: Septième et huitième réunions concernant : Bill C-10, An Act to amend the Income Tax Act, Le projet de loi C-10, Loi modifiant la Loi de l'impôt including amendments in relation to foreign sur le revenu, notamment en ce qui concerne les entités investment entities and non-resident trusts, de placement étrangères et les fiducies non-résidentes and to provide for the bijural expression ainsi que l'expression bijuridique de certaines dispositions of the provisions of that act de cette loi, et des lois connexes INCLUDING: Y COMPRIS : THE SIXTH REPORT OF THE COMMITTEE LE SIXIÈME RAPPORT DU COMITÉ (Special study budget 2008-09 — Present state of the (Le budget pour étude spéciale 2008-2009 — La situation domestic and international financial system) actuelle du régime financier canadien et international) WITNESSES: TÉMOINS : (See back cover) (Voir à l'endos) 45324-45331 THE STANDING SENATE COMMITTEE ON LE COMITÉ SÉNATORIAL PERMANENT DES BANKING, TRADE AND COMMERCE BANQUES ET DU COMMERCE The Honourable W. David Angus, Chair Président : L'honorable W. David Angus The Honourable Yoine Goldstein, Deputy Chair Vice-président : L'honorable Yoine Goldstein and et The Honourable Senators: Les honorables sénateurs : Banks Johnson Banks Johnson Biron * LeBreton, P.C. Biron * LeBreton, C.P. Fox, P.C. (or Comeau) Fox, C.P. (ou Comeau) Harb Massicotte Harb Massicotte * Hervieux-Payette, P.C. Meighen * Hervieux-Payette, C.P. Meighen (or Tardif) Ringuette (ou Tardif) Ringuette Jaffer Tkachuk Jaffer Tkachuk *Ex officio members *Membres d'office (Quorum 4) (Quorum 4) Changes in membership of the committee: Modifications de la composition du comité : Pursuant to rule 85(4), membership of the committee was Conformément à l'article 85(4) du Règlement, la liste des amended as follows: membres du comité est modifiée, ainsi qu'il suit : The name of the Honourable Senator Massicotte substituted for Le nom de l'honorable sénateur Massicotte est substitué à celui de that of the Honourable Senator Dawson (April 10, 2008). l'honorable sénateur Dawson (le 10 avril 2008). The name of the Honourable Senator Nolin substituted for that Le nom de l'honorable sénateur Nolin est substitué à celui de of the Honourable Senator Meighen (April 15, 2008). l'honorable sénateur Meighen (le 15 avril 2008). The name of the Honourable Senator Johnson substituted for Le nom de l'honorable sénateur Johnson est substitué à celui de that of the Honourable Senator Eyton (April 17, 2008). l'honorable sénateur Eyton (le 17 avril 2008). The name of the Honourable Senator Meighen substituted for Le nom de l'honorable sénateur Meighen est substitué à celui de that of the Honourable Senator Nolin (April 17, 2008). l'honorable sénateur Nolin (le 17 avril 2008). The name of the Honourable Senator Banks substituted for that Le nom de l'honorable sénateur Banks est substitué à celui de of the Honourable Senator Moore (April 17, 2008). l'honorable sénateur Moore (le 17 avril 2008). Published by the Senate of Canada Publié par le Sénat du Canada Available from: Public Works and Government Services Canada Disponible auprès des: Travaux publics et Services gouvernementaux Canada ± Publishing and Depository Services, Ottawa, Ontario K1A 0S5 Les Éditions et Services de dépôt, Ottawa (Ontario) K1A 0S5 Also available on the Internet: http://www.parl.gc.ca Aussi disponible sur internet: http://www.parl.gc.ca 17-4-2008 Banques et commerce 16:3 MINUTES OF PROCEEDINGS PROCÈS-VERBAUX OTTAWA, Wednesday, April 16, 2008 OTTAWA, le mercredi 16 avril 2008 (25) (25) [English] [Traduction] The Standing Senate Committee on Banking, Trade and Le Comité sénatorial permanent des banques et du commerce Commerce met at 4:10 p.m., this day, in room 9, Victoria se réunit aujourd'hui, à 16 h 10, dans la salle 9 de l'édifice Building, the chair, the Honourable W. David Angus, presiding. Victoria, sous la présidence de l'honorable W. David Angus (président). Members of the committee present: The Honourable Senators Membres du comité présents : Les honorables sénateurs Angus, Biron, Eyton, Fox, P.C., Goldstein, Harb, Jaffer, Angus, Biron, Eyton, Fox, C.P., Goldstein, Harb, Jaffer, Massicotte, Moore, Nolin, Ringuette and Tkachuk (12). Massicotte, Moore, Nolin, Ringuette et Tkachuk (12). Other senators present: The Honourable Senator Banks (1). Autre sénateur présent : L'honorable sénateur Banks (1). In attendance: June Dewetering and Philippe Bergevin, Également présents : June Dewetering et Philippe Bergevin, Analysts, Parliamentary Information and Research Services, analystes, Service d'information et de recherche parlementaires, Library of Parliament. Bibliothèque du Parlement. Also in attendance: The official reporters of the Senate. Aussi présents : Les sténographes officiels du Sénat. Pursuant to the order of reference adopted by the Senate Conformément à l'ordre de renvoi adopté par le Sénat on December 4, 2007, the committee continued its study of le 4 décembre 2007, le comité poursuit son étude du projet Bill C-10, An Act to amend the Income Tax Act, including de loi C-10, Loi modifiant la Loi de l'impôt sur le revenu, amendments in relation to foreign investment entities and notamment en ce qui concerne les entités de placement étrangères non-resident trusts, and to provide for the bijural expression et les fiducies non résidentes ainsi que l'expression bijuridique of the provisions of that act. (For complete text of the order of de certaines dispositions de cette loi, et des lois connexes. reference, see proceedings of the committee, Issue No. 4.) (Le texte complet de l'ordre de renvoi figure au fascicule no 4 des délibérations du comité.) WITNESSES: TÉMOINS : Canada Family Action Coalition: Coalition de l'action pour la famille au Canada : Charles McVety, President; Charles McVety, président; Brian Rushfeldt, Executive Director. Brian Rushfeldt, directeur exécutif. International Alliance of Theatrical Stage Employees, Moving International Alliance of Theatrical Stage Employees, Moving Picture Technicians, Artists and Allied Crafts of the United Picture Technicians, Artists and Allied Crafts of the United States, its Territories and Canada (IATSE): States, its Territories and Canada (IATSE) : John Morgan Lewis, International Vice-President and Director John Morgan Lewis, vice-président international et directeur of Canadian Affairs. des Affaires canadiennes. Documentary Organisation of Canada: Documentaristes du Canada : Tina Hahn, Treasurer, National Executive; Tina Hahn, trésorière, Exécutif national; John Christou, Chair, National Lobby Committee. John Christou, président, Comité de représentation politique. Association des réalisateurs et réalisatrices du Québec: Association des réalisateurs et réalisatrices du Québec : Jean Pierre Lefebvre, President. Jean Pierre Lefebvre, président. Mr. Rushfeldt and Mr. McVety each made a statement and MM. Rushfeldt et McVety font chacun une déclaration puis answered questions. répondent aux questions. At 5:30 p.m., the committee suspended. À 17 h 30, la séance est interrompue. At 5:37 p.m., the committee resumed. À 17 h 37, la séance reprend. Ms. Hahn, Mr. Christou, Mr Lewis, and Mr. Lefebvre each Mme Hahn, ainsi que MM. Christou, Lewis et Lefebvre font made a statement and answered questions. chacun une déclaration, puis répondent aux questions. 16:4 Banking, Trade and Commerce 17-4-2008 At 6:35 p.m., the committee adjourned to the call of À 18 h 35, le comité suspend ses travaux jusqu'à nouvelle the chair. convocation de la présidence. ATTEST: ATTESTÉ : OTTAWA, Thursday, April 17, 2008 OTTAWA, le jeudi 17 avril 2008 (26) (26) [English] [Traduction] The Standing Senate Committee on Banking, Trade and Le Comité sénatorial permanent des banques et du commerce Commerce met at 10:45 a.m., this day, in room 9, Victoria se réunit aujourd'hui, à 10 h 45, dans la salle 9 de l'édifice Building, the chair, the Honourable W. David Angus, presiding. Victoria, sous la présidence de l'honorable W. David Angus (président). Members of the committee present: The Honourable Senators Membres du comité présents : Les honorables sénateurs Angus, Banks, Biron, Fox, P.C., Goldstein, Harb, Jaffer, Angus, Banks, Biron, Fox, C.P., Goldstein, Harb, Jaffer, Johnson, Massicotte, Meighen and Ringuette (11). Johnson, Massicotte, Meighen et Ringuette (11). In attendance: June Dewetering and Philippe Bergevin, Également présents : June Dewetering et Philippe Bergevin, Analysts, Parliamentary Information and Research Services, analystes, Service d'information et de recherche parlementaires, Library of Parliament. Bibliothèque du Parlement. Also in attendance: The official reporters of the Senate. Aussi présents : Les sténographes officiels du Sénat. Pursuant to the order of reference adopted by the Senate Conformément à l'ordre de renvoi adopté par le Sénat on December 4, 2007, the committee continued its study of le 4 décembre 2007, le comité poursuit son étude du projet Bill C-10, An Act to amend the Income Tax Act, including de loi C-10, Loi modifiant la Loi de l'impôt sur le revenu, amendments in relation to foreign investment entities and notamment en ce qui concerne les entités de placement étrangères non-resident trusts, and to provide for the bijural expression et les fiducies non résidentes ainsi que l'expression bijuridique of the provisions of that act. (For complete text of the order of de certaines dispositions de cette loi, et des lois connexes. reference, see proceedings of the committee, Issue No. 4.) (Le texte complet de l'ordre de renvoi figure au fascicule no 4 des délibérations du comité.) WITNESSES: TÉMOINS : PEN Canada: PEN Canada : Christopher Waddell, Chair, National Affairs.
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