moved for leave to introduce Bill C-407, an act to amend the Bank Act (bank mergers).
Mr. Speaker, the purpose of the bill is to make it a requirement, unless there is an insolvency where a bank is going down, that before any merger can take place there must be a vote in the House of Commons so every member of the House can have a chance to vote on whether it is a good idea. This would not leave the decision solely in the hands of the Minister of Finance which is the status quo. It is a way of democratizing this place and making our roles more meaningful on a very important issue that will face the Canadian population in the fall.
(Motions deemed adopted, bill read the first time and printed)