Evidence of meeting #121 for Finance in the 41st Parliament, 1st Session. (The original version is on Parliament’s site, as are the minutes.) The winning word was unions.
A video is available from Parliament.
Conservative
Conservative
Cathy McLeod Conservative Kamloops—Thompson—Cariboo, BC
I'll be quick.
The Canadian National Institute for the Blind is improving library services for the print-disabled community digital hub. What is it, and how many people will benefit?
Nancy Milroy-Swainson Director General, Office for Disability Issues, Department of Human Resources and Skills Development
Thank you. I'm DG with the Office for Disability Issues in HRSDC.
The digital hub will be responsible for working with partners to outsource and produce the development of accessible materials, managing a digital repository, providing online access to its collection as well as physical distribution, and partnering with national stakeholders and international stakeholders to enhance the availability of accessible material for Canadians with vision loss and print disabilities.
Conservative
The Chair Conservative James Rajotte
Thank you.
Thank you, Ms. McLeod.
Are there any further questions on division 4?
I want to thank our officials very much, all of you, for being with us this morning and for responding to our questions.
Colleagues, do I have any questions on division 5?
Do I have any questions on division 7?
Are there any questions on division 11?
Oh, you wanted division 5? Okay.
Conservative
The Chair Conservative James Rajotte
Division 5 deals with the Canadian Securities Regulation Regime Transition Office Act. We welcome our two officials to the table.
We have Monsieur Marion. Please introduce yourself and your colleague.
Nicolas Marion Chief, Capital Markets and International Affairs, Securities Policies Division, Department of Finance
Good morning. My name is Nicolas Marion. I work as a chief at the Capital Markets and International Affairs Division of the Department of Finance.
I am joined by Allan Prochazka, also from the Department of Finance.
Conservative
NDP
Guy Caron NDP Rimouski-Neigette—Témiscouata—Les Basques, QC
Thank you.
I do have one question, but it will be fairly quick.
The Supreme Court handed down a decision in December 2011 on the bill aiming to create a single national securities regulator. The Supreme Court stated the following: “The proposed securities act represents a comprehensive foray by Parliament into the realm of securities regulation.” So the Supreme Court was clear.
By extending that transition office's life, is the government trying to find a way to interpret or circumvent the Supreme Court's decision? If not, does the government intend to facilitate the Canadian passport system, which is currently implemented by the provinces?
Chief, Capital Markets and International Affairs, Securities Policies Division, Department of Finance
Thank you for your question.
I am not a lawyer, so I cannot speak to the legal aspect. However, when you read the Supreme Court's decision, you can see that the court clearly said that securities regulation was a responsibility shared by the provinces and the federal government.
When it comes to Parliament's responsibilities with respect to securities, the court said that Parliament would have jurisdiction over issues of national scope that are related to the effectiveness and integrity of capital markets. In addition, the Supreme Court recognized Parliament's jurisdiction with regard to the Criminal Code and its application to securities.
NDP
Guy Caron NDP Rimouski-Neigette—Témiscouata—Les Basques, QC
The Supreme Court established that Ottawa's Parliament did not have the authority to create a Canada-wide securities regulator, unless provinces agreed to that, of course.
Chief, Capital Markets and International Affairs, Securities Policies Division, Department of Finance
The Supreme Court said that, if the objective was to create a Canada-wide organization with provincial and federal jurisdictions under the same umbrella, the two levels of government should work together.
Conservative
The Chair Conservative James Rajotte
Thank you, Mr. Caron.
We thank our officials very much.
Thank you very much for answering our questions.
Colleagues, I'll go to division 7.
Division 6 deals with the Investment Canada Act, and that's been referred to the industry committee.
NDP
Guy Caron NDP Rimouski-Neigette—Témiscouata—Les Basques, QC
Okay.
The Standing Committee on Industry, Science and Technology will study the report and will be able to propose, but not adopt, amendments. Those amendments moved by the Standing Committee on Industry, Science and Technology should be debated and adopted by the Standing Committee on Finance, without us at least having had the opportunity to discuss that issue with officials, or even witnesses.
Conservative
The Chair Conservative James Rajotte
The industry committee will obviously look at the Investment Canada Act provisions and they will send a letter to the chair. They may include recommendations to those clauses. We will have officials who will presumably be presenting to the industry committee, and they will be here for the clause-by-clause section of the bill.
Conservative
The Chair Conservative James Rajotte
Is there anything on division 7?
Is there anything on division 11, the Nuclear Safety and Control Act?
I'll move to division 13, Ridley Terminals Inc.
I believe we have questions on Ridley Terminals, so I will ask those officials to come forward.
Welcome back to the committee, Mr. Ram and your two colleagues.
Would you like to introduce yourselves to the members? Then we'll have some questions.
Director, Microeconomic Policy Analysis, Department of Finance
Good morning again. I'm still Elisha Ram with economic development at Finance.
Soren Halverson Senior Chief, Corporate Finance and Asset Management, Department of Finance
I'm Soren Halverson, also with economic development, corporate finance branch, Finance.
Janet Kavanagh Director, Ports Policy, Department of Transport
I'm Janet Kavanagh, director of port policy at Transport Canada.
Conservative
The Chair Conservative James Rajotte
Welcome. Thank you for being with us.
I will start with Mr. Van Kesteren.
Conservative
Dave Van Kesteren Conservative Chatham-Kent—Essex, ON
Thank you, Chair.
Thanks to all of you for being here with us this morning.
I guess the question that begs an answer is why the private sector ownership? Why has the government decided on private sector ownership of Ridley Terminals?
Senior Chief, Corporate Finance and Asset Management, Department of Finance
The decision to sell Ridley Terminals is consistent with the government's commitment to the efficient use of public resources. Ridley Terminals is the only coal export terminal in Canada that is currently owned by the government. All other terminals are owned and operated by the private sector.
Conservative