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May 29, 1936

ROYAL ASSENT

LIB

Walter Edward Foster (Speaker of the Senate)

Liberal
Member File Biography @ PARLINFO

Mr. SPEAKER:

I have the honour to inform the house that I have received the following message:-

Ottawa, May 29, 1936.

Sir,

I have the honour to inform you that the Right Honourable Sir Lyman P. Duff, Chief Justice of Canada, acting as deputy of His Excellency the Governor General, will proceed to the Senate chamber on Tuesday next, second June, at 9 p.m., for the purpose of giving the royal assent to certain bills.

F. L. C. Pereira,

Assistant Secretary to the Governor General.

Topic:   ROYAL ASSENT
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RAILWAY COMMITTEE

Mr. VIEN presented the first report of the standing committee on railways, canals and telegraph lines.

DOMINION ELECTIONS ACT, 1934

Hon. FERNAND RINFRET (Secretary of State) moved for leave to introduce Bill No. 78, to amend The Dominion Elections Act, 1934. He said: The purpose of this bill is to provide for the taking of votes at dominion byelections. It follows a bill passed previously at this session which postponed the annual revision of the list, and is to meet the representations of certain members of parliament that we were not providing for by-elections. I may add that the bill is in conformity with the recommendations of the special committee of the house. It is to be accompanied by a companion bill amending the Dominion Franchise Act, which must be preceded by a resolution, which resolution also appears on the order paper. Motion agreed to and bill read the first time.

DOMINION FRANCHISE ACT. 1934

Hon. FERNAND RINFRET (Secretary of State) moved that the house go into committee at the next sitting to consider the following proposed resolution: That it is expedient to introduce a measure to amend the Dominion Franchise Act, 1934, with respect to by-elections and to make provision for the appointment of enumerators and other necessary officers and for the preparation and printing of voters' lists and other necessary documents. He said: His Excellency the Governor General, having been made acquainted with the subject matter of this resolution, recommends it to the favourable consideration of the 'house. Motion agreed to.

JUDGES ACT

Hon. ERNEST LAPOINTE (Minister of Justice) moved that the house go into committee at the next sitting to consider the following proposed resolution: That it is expedient to amend the Judges Act to provide salaries for the Ontario appeal and high court judges as presently constituted; and further provide that when a vacancy occurs in the office of chief justice in appeal the office shall be abolished and the court shall thereafter consist of a chief justice and seven other judges. He said: His Excellency the Governor General, having been made acquainted with the Canadian and British Insurance subject matter of this resolution, recommends it to the favourable consideration of the house. Motion agreed to.

CANADIAN AND BRITISH INSURANCE COMPANIES ACT, 1932

The house resumed from Thursday, May 28, consideration in committee of Bill No. 61, to amend the Canadian and British Insurance Companies Act, 1932-Mr. Dunning-Mr. Johnston (Lake Centre) in the chair. On section 6-Power to invest in stocks of other insurance companies.
LIB

Charles Avery Dunning (Minister of Finance and Receiver General)

Liberal
Member File Biography @ PARLINFO

Mr. DUNNING:

When the house rose last night we were discussing section 6 of this bill and I undertook to have the section further reviewed in order to make sure of its true effect. I have done so and am now able to advise the committee that under the section as it at present stands in the law a fire insurance company, having invested more than 15 per cent of its assets in common stocks, could under section 61 as it now stands invest further amounts in the common shares o' another insurance company, even if those shares did not comply as to dividends with subsection 1 of section 60. This, it is believed, was not the original intention and even if it was it should be changed. The amendment will make it clear that the concession made by section 61 will not apply to any company which has already invested more than 15 per cent of its assets in common stocks. I think that answers the question raised by the leader of the opposition last evening in connection with this section.

Topic:   CANADIAN AND BRITISH INSURANCE COMPANIES ACT, 1932
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CON

Richard Bedford Bennett (Leader of the Official Opposition)

Conservative (1867-1942)
Member File Biography @ PARLINFO

Mr. BENNETT:

I would hardly agree with the construction placed on the section as it stands, but that is unimportant; I cannot think that that is the meaning of it as it now stands. But why is subsection 2 added, "certain investments excepted"? It will be observed that this is a new section entirely and it provides that investments made after 1927 and before the first day of January of this year, under the provisions of so and so, shall not be deemed to be investments in common stocks within the meaning of subsections 6 and 7 of section 60. That brings it down to the first of this year and to all intents and purposes renders nugatory the provisions of the law in respect of common stocks since 1927 up to date.

Topic:   CANADIAN AND BRITISH INSURANCE COMPANIES ACT, 1932
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LIB

Charles Avery Dunning (Minister of Finance and Receiver General)

Liberal
Member File Biography @ PARLINFO

Mr. DUNNING:

The intention of subsection 2 is to avoid any interference with investments which have been made under the provisions of the act after 1927 down to date. I am advised they are very small, but in the absence of subsection 2 there would

be very grave question as to how the companies would stand in relation to them.

Topic:   CANADIAN AND BRITISH INSURANCE COMPANIES ACT, 1932
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Section agreed to. On section 7-No power to form other companies.
LIB

Charles Avery Dunning (Minister of Finance and Receiver General)

Liberal
Member File Biography @ PARLINFO

Mr. DUNNING:

This is purely a clerical correction.

Topic:   CANADIAN AND BRITISH INSURANCE COMPANIES ACT, 1932
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Section agreed to. On section 8-Exemptions.
LIB

Charles Avery Dunning (Minister of Finance and Receiver General)

Liberal
Member File Biography @ PARLINFO

Mr. DUNNING:

The same remark applies to this section.

Topic:   CANADIAN AND BRITISH INSURANCE COMPANIES ACT, 1932
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Section agreed to. On section 9-Majority to reside in Canada.

May 29, 1936