House of Commons Hansard #156 of the 38th Parliament, 1st Session. (The original version is on Parliament's site.) The word of the day was first.

Topics

Bank Act
Government Orders

5:15 p.m.

Bloc

Yvan Loubier Saint-Hyacinthe—Bagot, QC

Madam Speaker, I will speak briefly to Bill C-57.

We had some reservations when this bill was first introduced, but after it went through committee and witnesses suggested avenues for improving it, especially after hearing actuaries and their concerns, we decided to support it.

We still have a few unanswered questions regarding the confidentiality of information on bank operations. However, on the whole, I think this bill is worth passing. It is an improvement on the current situation. It is an extension of Bill S-11, which was introduced last year. We will therefore support it.

As a next step, I think it would be worthwhile to look at the issue of confidentiality of the operations of banks and their boards of directors. But for now, we are supporting the bill. More improvements can be made to it later.

In a nutshell, I am announcing to the House that we will be supporting this bill.

Bank Act
Government Orders

5:15 p.m.

NDP

David Christopherson Hamilton Centre, ON

Madam Speaker, I appreciate the opportunity to say a few brief words about the bill before the House. The caucus of the NDP will be supporting this bill and I will take a moment to underscore one of the main reasons why.

People know that the predecessor to the NDP was the CCF. Cooperative was part of the name of that party. One of the things that we like most about this legislation is the fact that there is now going to be an alignment of the Cooperative Credit Associations Act and the Bank Act.

That is important because the bill would allow cooperatively structured companies to receive the same treatment in terms of their share requirements as those afforded other traditionally structured organizations. As the current legislation stands, this treatment apparently does not happen because of outdated limitations.

In passing this bill we are supporting and promoting cooperatively structured corporations and companies. We believe that is a good thing. The more cooperative structured entities we have then the greater the differences in terms of the raison d'être of corporations.

On the one hand corporations are dollar driven and profit driven only. That is the be all to end all and that is the way things are structured. Often a cooperatively structured company still needs to make money and still has to profit from being in existence. Usually, with a cooperatively structured company or entity of any sort, there are other reasons why that company is active in terms of the work it does or the services it provides. Often there is a benefit that goes way beyond that of just increased profits, and that is good for the economy. It provides further diversification and a difference in the kinds of engines that are driving our economy and the results that we are getting from them.

This is an area that still needs work as far as my party is concerned. It is not complete. The bill is positive in enough areas like the one I have just mentioned that we are comfortable in giving our support to it and we will reflect that when it comes time to vote.

Bank Act
Government Orders

5:20 p.m.

The Acting Speaker (Hon. Jean Augustine)

Pursuant to order made earlier today, the question is deemed put and the motion is deemed carried on division.

(Motion agreed to, bill read the third time and passed)

Business of the House
Government Orders

5:20 p.m.

The Acting Speaker (Hon. Jean Augustine)

I would like to inform the House that under the provisions of Standing Order 97.1(2) I am designating Wednesday, November 30, 2005, as the day fixed for the consideration of the motion to concur in the 19th report of the Standing Committee on Finance. This report contains a recommendation not to proceed further with Bill C-273, an act to amend the Income Tax Act (deduction for volunteer emergency service).

I am designating Thursday, December 1, 2005, as the day fixed for the consideration of the motion to concur in the 14th report of the Standing Committee on Citizenship and Immigration. The report contains a recommendation not to proceed further with Bill C-283, an act to amend the Immigration and Refugee Protection Act and the Immigration and Refugee Protection Regulations.

Business of the House
Government Orders

5:20 p.m.

Liberal

Karen Redman Kitchener Centre, ON

Madam Speaker, I rise on a point of order. Could you seek the unanimous consent of the House to see the clock as 5:30 p.m.?

Business of the House
Government Orders

5:20 p.m.

The Acting Speaker (Hon. Jean Augustine)

Is there unanimous consent that we see the clock as 5:30 p.m.?

Business of the House
Government Orders

5:20 p.m.

Some hon. members

Agreed.

The House resumed from November 16 consideration of the motion that Bill C-248, An Act to amend the Controlled Drugs and Substances Act (trafficking in a controlled drug or substance within five hundred metres of an elementary school or a high school), be read the second time and referred to a committee.

Controlled Drugs and Substances Act
Private Members' Business

November 23rd, 2005 / 5:25 p.m.

The Acting Speaker (Hon. Jean Augustine)

It being 5:30 p.m. the House will now proceed to the taking of the deferred recorded division on the motion at second reading stage of Bill C-248 under private members' business.

Call in the members.

Before the Clerk announced the results of the vote:

Controlled Drugs and Substances Act
Private Members' Business

5:55 p.m.

The Deputy Speaker

Perhaps the hon. Minister of International Cooperation could tell us which way she meant to vote.

Controlled Drugs and Substances Act
Private Members' Business

5:55 p.m.

Liberal

Aileen Carroll Barrie, ON

Mr. Speaker, I apologize for not having paid adequate attention. I wish to be registered as voting against the motion.

(The House divided on the motion, which was agreed to on the following division:)

Controlled Drugs and Substances Act
Private Members' Business

5:55 p.m.

The Deputy Speaker

I declare the motion carried. Accordingly the bill stands referred to the Standing Committee on Justice, Human Rights, Public Safety and Emergency Preparedness.

(Bill read the second time and referred to a committee)

The House resumed from November 18 consideration of the motion that Bill C-301, An Act to amend the Old Age Security Act (monthly guaranteed income supplement), be read the second time and referred to a committee.

Old Age Security Act
Private Members' Business

5:55 p.m.

The Deputy Speaker

The House will now proceed to the taking of the deferred recorded division on the motion at second reading stage of Bill C-301 under private members' business.

(The House divided on the motion, which was agreed to on the following division:)

Old Age Security Act
Private Members' Business

6:05 p.m.

The Deputy Speaker

I declare the motion carried. Accordingly, the bill is referred to the Standing Committee of Human Resources Development, Skills Development, Social Development and the Status of Persons with Disabilities.

(Bill read the second time and referred to a committee)