moved for leave to introduce Bill C-342, an act to amend the Bank Act, the Insurance Companies Act and the Trust and Loan Companies Act (repayment of a mortgage loan before the maturity of the loan).
Mr. Speaker, once again, people who are paying off a mortgages, if they have the money to do so, should not be penalized by a bank, an insurance company or a trust company if they want to pay off their mortgages ahead of time. This is obviously supported by the member from the Northwest Territories.
(Motions deemed adopted, bill read the first time and printed)