Mr. Chairman, I do not agree. In reality if the offence carries under the Criminal Code a penalty that is indictable with a maximum of five years or more, then it falls within this definition. The fact that an individual offender, because of the Young Offenders Act, would be subject to a lessor penalty because of their own age is beside the point.
In the House of Commons on April 21st, 1997. See this statement in context.