moved:
Motion No. 10
That Bill C-2, in Clause 9, be amended by replacing lines 14 to 20 on page 4 with the following:
“9. Section 66 of the Act is replaced by the following:
- (1) The Commission shall, with the approval of the Governor in Council on the recommendation of the Minister and the Minister of Finance, set the premium rate for each year at a rate that the Commission considers will, to the extent possible, a ) ensure that there will be enough revenue over a business cycle to pay the amounts authorized to be charged to the Employment Insurance Account; and b ) maintain relatively stable rate levels throughout the business cycle.
(2) Notwithstanding subsection (1), the premium rate shall not exceed $2.20 for the year 2002 and $2.10 for the year 2003.
(3) When setting the premium rate for a year in accordance with subsection (1), the Commission shall provide a written explanation as to why the premium rate is set at that level for the year.
(4) The Commission's explanation under subsection (3) shall be referred for review to the standing committee designated by Parliament for that purpose.”