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REPORT OF THE COMMITTEE

Wednesday, February 27, 2008

The Standing Senate Committee on National Finance

has the honour to present its

SIXTH REPORT


Your committee, to which was referred Bill S-201, An Act to amend the Financial Administration Act and the Bank of Canada Act (quarterly financial reports), has, in obedience to the order of reference of Wednesday, November 28, 2007, examined the said Bill and now reports the same with the following amendments:

1. Preamble, page 1: Replace lines 9 to 11 with the following:

“traded companies;”.

2. Clause 1, page 2:

(a) Replace lines 7 and 8 with the following:

“be prepared a quarterly financial report for” ; and

(b) Delete lines 14 to 16;

(c) Reletter paragraphs 65.1(2)(b) to (e) as paragraphs 65.1(2)(a) to (d); and

(d) Replace lines 32 to 37 with the following:

“(3) The appropriate Minister shall cause the report referred to in subsection (1)

(a) to be made available to the public within 60 days after the end of each three-month period referred to in that subsection; and

(b) to be laid before each House of Parliament at the first reasonable opportunity.”.

 

3. Clause 2, page 3:

(a) Replace lines 3 and 4 with the following:

“prepared, in respect of itself and its”;

(b) Delete lines 12 to 14;

(c) Reletter paragraphs 131.1(2)(b) to (f) as paragraphs 131.1(2)(a) to (e); and

(d) Replace lines 32 to 37 with the following:

“(3) The appropriate Minister shall cause the report referred to in subsection (1)

(a) to be made available to the public within 60 days after the end of each three-month period referred to in that subsection; and

(b) to be laid before each House of Parliament at the first reasonable opportunity.”.

 

4. Clause 3, page 4:

(a) Replace lines 2 and 3 with the following:

“Bank shall prepare a quarterly financial”;

(b) Delete lines 11 to 13;

(c) Reletter paragraphs 29.1(2)(b) to (f) as paragraphs 29.1(2)(a) to (e); and

(d) Replace lines 30 to 35 with the following:

“(3) The appropriate Minister shall cause the report referred to in subsection (1)

(a) to be made available to the public within 60 days after the end of each three-month period referred to in that subsection; and

(b) to be laid before each House of Parliament at the first reasonable opportunity.”.

Respectfully submitted, 

JOSEPH A. DAY
Chair


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