Finance committee  I have no idea. I'm sorry.

Finance committee  Thank you.

Finance committee  Yes, that's right. I think my synopsis is actually longer than the amendment in the act. You'll have to forgive me for that. This amendment repeals a paragraph within a subsection of the Canada Mortgage and Housing Corporation Act that stipulates that No person shall be appoint

Finance committee  Why—

Finance committee  There is a minimum age in several pieces of legislation. There is a project to ensure that all legislation take the same approach and have the same policy. The current policy is to eliminate all minimums.

Finance committee  I'm sorry. I have no idea. As I said, there are a number of acts that have minimum ages in them, and the minimum ages seem to vary between 65, 70, and 75 years. I can't answer as to why they were introduced originally.

Finance committee  That's from both the Office of the Superintendent of Financial Institutions and the Department of Finance.

Finance committee  Sure. My colleague Annie has just explained the process for getting the approval of the Superintendent of Financial Institutions. In this case it would work the same way. The applicant and the financial institution in Canada would both come to OSFI to make an application. OSFI wo

Finance committee  There are points in time at which there has to be notification in the Canada Gazette that an application has been made.

Finance committee  There are a number of different types of investors that we see that are contemplated within the Bank Act, so depending on the type of owner, the type of application, you can see there are different processes to go down. What Annie is indicating is that we want these eligible po

Finance committee  The preamble is effectively a preamble over the Bank Act, and the federal government has the clear constitutional ability to effect—

Finance committee  With Quebec?

Finance committee  No.

Finance committee  Thank you very much. Thank you for having me back again. I'm just here for one division this time, you'll be happy to know. Division 36 introduces a preamble to the Bank Act to clarify the intent that all banking activities throughout Canada can be governed exclusively by the s

Finance committee  Both orders of government in Canada have an interest in ensuring that consumers and financial institutions are not confused or burdened by overlapping or contradictory regulations and requirements. Parliament's responsibility for banking is clear under the Constitution, and the g