—how many transactions would be stayed.
Evidence of meeting #87 for Finance in the 41st Parliament, 1st Session. (The original version is on Parliament’s site, as are the minutes.) The winning word was capital.
A video is available from Parliament.
Evidence of meeting #87 for Finance in the 41st Parliament, 1st Session. (The original version is on Parliament’s site, as are the minutes.) The winning word was capital.
A video is available from Parliament.
5:05 p.m.
Senior Project Leader, Financial Sector Policy Branch, Department of Finance
—how many transactions would be stayed.
5:05 p.m.
Liberal
5:05 p.m.
Senior Project Leader, Financial Sector Policy Branch, Department of Finance
The dollar value would probably vary on a day-to-day basis, depending on the institutions. If you're talking about a large institution, you would expect the value would be greater than for a smaller institution.
5:05 p.m.
Liberal
Rodger Cuzner Liberal Cape Breton—Canso, NS
Yes, but the question was whether over the last year there have been any instances.
5:05 p.m.
Senior Project Leader, Financial Sector Policy Branch, Department of Finance
There have been no instances.
5:05 p.m.
Senior Project Leader, Financial Sector Policy Branch, Department of Finance
Yes. The bridge bank regime was put in place in 2008, and it has not been used. These clauses have not been invoked so far.
5:05 p.m.
Conservative
The Chair Conservative James Rajotte
Okay, thank you.
I want to thank our officials for being here to explain this division and for responding to our questions.
Mrs. Glover.
5:05 p.m.
Conservative
Shelly Glover Conservative Saint Boniface, MB
I was just wondering, Chair, if you've received any notice from opposition members. We had discussed perhaps advising officials for whom we wouldn't have any questions that they don't need to sit through all of this. I'm curious to know if you got any indication from the opposition about some divisions, such as division 11, division 17, and division 22, which are pretty innocuous.
5:05 p.m.
Conservative
The Chair Conservative James Rajotte
We don't have any indication so far. I could ask for it now.
My understanding is that we have officials for division 6, division 7, division 11, and division 14 here today. If I could, I'd like to finish those divisions.
Division 6 deals with the Bretton Woods and Related Agreements Act. I'm not sure if there will be questions. It's a fairly straightforward section, in my view.
Division 7 is on the Canada pension plan.
Division 11 is on the Merchant Seamen Compensation Act.
5:05 p.m.
Conservative
The Chair Conservative James Rajotte
I'm assuming there would be more questions on divisions 7 and 14.
Is that fair for me to say, Mr. Caron?
5:05 p.m.
NDP
5:05 p.m.
Conservative
The Chair Conservative James Rajotte
We'll go back to Mrs. Glover, and then we'll come back.
Mrs. Glover.
5:05 p.m.
Conservative
Shelly Glover Conservative Saint Boniface, MB
If I could just clarify, there was discussion with the opposition about division 11 not being necessary to review because of its simplicity. I thought we could address that so the officials who might be here could leave.
5:05 p.m.
Conservative
The Chair Conservative James Rajotte
Let me do it for division 6 as well.
Division 6 is based on the G-20 commitment. It implements the government reforms agreed to by the members in 2010. We have a short briefing note by the Library of Parliament.
I don't know what members would ask.
Can we move on to division 7 on the Canada pension plan?
Okay, so we will consider division 6 done.
I think Mrs. Glover wants me to ask if I can get an indication, because we do have officials for divisions 7, 11, and 14, whether there will be questions on division 11. If there won't be, then she's right and we should release that official.
Will there be questions on the Merchant Seamen Compensation Act?
I'm seeing no questions.
5:10 p.m.
NDP
Hoang Mai NDP Brossard—La Prairie, QC
Ms. Nash is not here. We wouldn't want to answer for her.
If we come back and realize that we don't have any questions regarding revenue.... Actually, we'll let you know if there's any division that we don't need. I think we still have 20 minutes.
5:10 p.m.
Conservative
The Chair Conservative James Rajotte
Okay.
Could I have a gentlemen's and gentle ladies' agreement to finish division 14 by 5:30? Then the officials who are here won't have to come back on Monday. Is that fair?
Okay.
We'll move to division 7 on the Canada pension plan.
I want to welcome the officials. Thank you so much for joining us this Thursday afternoon.
We'll start with questions on this section.
We'll have a very short briefing, please.
November 1st, 2012 / 5:10 p.m.
Dominique LaSalle Director General, Seniors and Pensions Policy Secretariat, Department of Human Resources and Skills Development
I am Dominique LaSalle, Director General, Seniors and Pensions Policy Secretariat. I am accompanied by Marianna Giordano, Director, CPP Policy and Legislation.
Also with me is Ms. Cassandra Iwankow, who is the director of policy for CPP disability.
The amendments you have before you in division 7, part 4, are technical in nature. They flow from the triennial review of the Canada pension plan conducted between 2010 and 2012. These amendments do not change the benefits. They do not change the contribution rate. The amendments renumber some of the clauses and remove some unintended gaps, those sorts of technical issues.
5:10 p.m.
Conservative
5:10 p.m.
NDP
Hoang Mai NDP Brossard—La Prairie, QC
Yes. These are questions we talked about during the briefing. What I understood was that the change did not in any way affect the complaint process, with regard to either the receipt of complaints or their analysis. Is that right?
5:10 p.m.
Director General, Seniors and Pensions Policy Secretariat, Department of Human Resources and Skills Development
No, there is no change. We just want the bodies, like the new Social Security Tribunal, which is going to replace the...
What was it called?
