[Translation]

TUESDAY, SEPTEMBER 17, 1996
(25)

The Standing Committee on Finance met, in camera, at 3:31 o'clock p.m., this day, in Room 536, Wellington Building, the Chair Jim Peterson, presiding.

Members of the Committee present: Richard Bélisle, Dianne Brushett, Barry Campbell, Ron Duhamel, Ron Fewchuk, Herb Grubel, Yvan Loubier, Jim Peterson, Gary Pillitteri, Brent St. Denis and Susan Whelan.

Acting Members present: Guy Arsenault pour Herb Dhaliwal and Bernard Tremblay pour Roger Pomerleau.

Other Member present: Brenda Chamberlain.

In attendance: From the Research Branch of the Library of Parliament: Marion Wrobel and Richard Domingue, Research Officers.

Pursuant to Standing Order 108(2), the Committee held a meeting to study the administration of the Income Tax Act as it applies to family trusts. (See Minutes of Proceedings, Issue 2, Meeting 13, May 28, 1996)

It was agreed, - That the draft report be adopted as the Committee's third Report.

It was ordered, - That the Chair present the Third Report to the House.

It was agreed, - That the Chair be authorized to make such typographical and editorial changes as may be necessary without changing the substance of the Draft Report.

After debate, it was agreed, - That the Committee authorize the printing of dissenting opinions of the Block Quebecois and the Reform Party as an appendix to this report, immediately following the signature of the Chair.

It is agreed, - That the dissenting opinions not exceed 12 pages and that it be submitted in both official languages to the Clerk no later than Wednesday, September 18, 1996 at 12:00 noon.

It was noted that the first meeting of the Sub-Committee on International Financial Institutions (I.F.I.) will take place the week of October 7, 1996.

At 3:47 o'clock p.m., the Committee adjourned to the call of the Chair.