Standing Senate Committee on Banking, Commerce and the Economy (BANC) (May 30, 2014)
About BANC

About BANC

Pursuant to Rule 12-7(10), the Standing Senate Committee on Banking, Commerce and the Economy has the mandate to study matters relating to banking, trade, commerce and the economy generally. The committee has conducted studies and examined bills in the areas of productivity, business investment, inflation, insolvency, taxation, financial sector reform, business trade, financial crimes and retirement.

The committee has undertaken comprehensive legislative reviews in the past, such as the Bank Act, the Bankruptcy and Insolvency Act, the Companies’ Creditors Arrangements Act, the Proceeds of Crime (Money Laundering) and Terrorist Financing Act, and the Business Development Bank of Canada Act have been conducted.

Many of these studies lead to legislative changes being introduced by the government. In particular, the committee’s comprehensive hearings in relation to the Bankruptcy and Insolvency Act and the Companies’ Creditors Arrangements Act were followed by two bills seeking to modernize Canada’s insolvency legislation.

Finally, the committee examines the subject matter of budget bills each year. During the 43rd Parliament, the committee examined the subject matter of one budget bill.

Detailed information on current work of the committee can be found on the parliamentary website at https://sencanada.ca/en/committees/banc/.

For committee member profiles and information on key personnel, please see Annex A.