So we have a breakfast by Mr. Teneycke and a tour by Mr. Wardrop. Mark this on your calendar, folks.
Thank you so much, gentlemen.
Ladies and gentlemen of the committee, we have a couple of housekeeping issues to work on at the moment, so please stay in your seats.
The first one won't take any votes or anything like that. Bill C-15 passed by unanimous consent yesterday and has gone to the Senate. There was some consideration or discussion about changing some of the default mechanisms, which were lost in the wash of getting it through the House quickly. It won't come to this committee, but are you folks opposed to my writing a letter to the Senate? Apparently they're going to have a hearing on Thursday morning. Can we point out to them that we'd like some changes to the default?
I've chatted with Mr. Easter. I haven't had a chance to chat with Mr. Bellavance or Mr. Atamanenko.
Right at the moment the default mechanism is very punitive on cash advances: 10% is added to your loan; the interest rate starts the day you take out the loan, not the day you defaulted; you're considered in default even if you still have the grain commodity in the bin but haven't been able to sell it. So there are some punitive sides to this that I would like to see addressed in Bill C-15.
Does anyone have a concern about that letter going to the Senate? I've talked to the minister about it already. All right? We will do that.
Mr. Anderson, do you have a comment on that at all?