Mr. Speaker, Motions Nos. 3, 4, 5, 6 and 7 brought forward by the Bloc relate to the provisions of the Bank Act on crown corporation governance.
As hon. members know, the Senate is presently considering a separate bill, Bill S-11, to amend the provisions of the Canada Business Corporations Act relating to corporation governance.
The government is closely monitoring progress of Bill S-11 with a view to assessing the opportunity to apply the various initiatives included in that legislation to financial institutions.
After parliament has completed consideration of Bill S-11, the government will consult interested parties on the changes.
The consultation process will allow parties who did not take part in the amendment of the Canada Business Corporations Act to express their views on the appropriateness of making similar amendments to corporation governance provisions that apply to financial institutions.
Since the general examination of provisions of financial institution legislation concerning corporation governance will focus on the issues raised in the motions, we think there is no need to amend the bill at the moment.