Bill S-237 explained in plain English

This record details a Senate sitting where Bill S-237, an Act to amend the Criminal Code regarding the criminal interest rate, was introduced and received its first reading. The sitting also included statements by senators on various topics, tabling of reports, question period, and debates on other bills. Specifically, Bill S-237 was introduced by Senator Pierrette Ringuette and placed on the Order of the Day for second reading at a future date.

This document summarizes the Senate sitting on May 16, 2017. The Senate commenced the second reading debate for Bill S-237, an Act to amend the Criminal Code (criminal interest rate). Senator Pierrette Ringuette introduced the bill, explaining its purpose is to reduce the criminal interest rate from 60% to 20% above the Bank of Canada's rate for certain loans, while maintaining the 60% rate for loans under $1 million to businesses. The debate was adjourned to allow for further discussion. Other proceedings included tabling reports, introducing new bills, and debates on other Senate and House of Commons bills. Question Period featured the Minister of International Trade discussing trade agreements and economic competitiveness. The sitting concluded with Royal Assent being granted to two bills.

On May 16, 2017, the Senate began the second reading debate for Bill S-237, An Act to amend the Criminal Code (criminal interest rate). Senator Pierrette Ringuette introduced the bill, explaining that it aims to reduce the criminal interest rate from a fixed 60 per cent to 20 per cent above the Bank of Canada's rate. She noted this is the third time she has introduced this bill, and that previous attempts were blocked. The debate focused on the proposed changes to Section 347 of the Criminal Code, the historical context of interest rate regulation in Canada, and the bill's potential impact on individuals, businesses, and non-profit organizations. Senator Ringuette detailed how the current rate was set in 1981 and argued that it should be updated to reflect current economic conditions. She also discussed the history of interest rate caps in Canada, the definition of a criminal interest rate, and its application to various loan types, including credit cards and instalment loans. The debate was adjourned for further consideration.

On September 26, 2017, the Senate continued the debate on Bill S-237, an Act to amend the Criminal Code concerning the criminal interest rate. The debate was adjourned by Senator Yonah Martin, meaning it will continue at a later date. The rest of the sitting involved tributes to Senator Elaine McCoy, discussions on various reports and notices of motions, and a lengthy debate and vote on a motion concerning the study of proposed changes to the Income Tax Act related to private corporations. The sitting also included a question period with the Minister of Infrastructure and Communities.

This is a record of a Senate sitting that took place on November 7, 2017. The sitting included a silent tribute to victims of violence, statements by senators commemorating the 150th anniversary of the Senate's first sitting, and the tabling of various reports. During Routine Proceedings, reports from the Parliamentary Budget Officer, an assessment related to the Indian Act, and the annual report of the National Defence and Canadian Forces Ombudsman were tabled. Question Period addressed issues including justice, public safety, cybersecurity, national defence, health, and amendments to the Indian Act. The Orders of the Day included debates on amendments to the Indian Act, second reading debates on a bill to amend the Criminal Code (criminal interest rate), and continued debates on other bills and motions related to the Indian Act, criminal code, immigration, palliative care, Senate modernization, and infrastructure oversight. The Senate also welcomed the Minister of Environment and Climate Change for Question Period, where discussions covered topics such as the Asian Infrastructure Investment Bank, carbon pricing, climate change commitments, infrastructure, tanker traffic moratoriums, energy-efficient housing, national parks, a national portrait gallery, and the carbon tax in Saskatchewan. The sitting concluded with debates on several bills and motions being adjourned.

This artifact details a Senate sitting on November 22, 2017. The Senate proceeded with routine proceedings, including tabling reports and introducing bills. A significant portion of the sitting was dedicated to Question Period, where Senators asked the Government Representative in the Senate about various government actions and policies. The sitting also included debates on several bills at the second reading stage: Bill C-46 (Criminal Code amendments related to impaired driving), Bill C-25 (amendments to corporate acts regarding diversity on boards and in management), Bill C-49 (Transportation Act amendments), Bill C-60 (miscellaneous statute amendments), and Bill S-237 (amendments to the Criminal Code concerning the criminal interest rate). The debate on Bill S-237, concerning the criminal interest rate, was specifically resumed and discussed. The sitting concluded with several debates being adjourned.

During the Senate's second reading debate on Bill S-237, which aims to amend the Criminal Code concerning the criminal interest rate, Senator Ghislain Maltais spoke about the bill's long history and the need for change. He highlighted that the current Criminal Code allows for a 60% interest rate, which he considers extreme in today's economic climate where bank deposits earn less than 1%. Senator Maltais emphasized the importance of protecting consumers, particularly young people and those with lower incomes, who may struggle with credit card debt and loans from less reputable financial institutions. He argued that parliamentarians have a duty to protect vulnerable Canadians and that the Senate serves as their last line of defence. He also recounted an example of exploitation through store credit cards. The debate also touched upon other legislative matters and discussions in the Senate on that day, but Senator Maltais's speech focused on the specific issues related to Bill S-237.

On November 23, 2017, the Senate held its second reading debate on Bill S-237, An Act to amend the Criminal Code (criminal interest rate). Following the debate, the bill was referred to the Standing Senate Committee on Banking, Trade and Commerce for further study. The sitting also included other proceedings such as Senators' Statements on various observances, tabling of regulations, notices of motions, and debates on other bills and inquiries.

On February 13, 2018, the Senate convened. The sitting included various procedural matters, including the tabling of committee reports and notices of motions. A significant portion of the day was dedicated to debating Bill C-45, concerning the legalization of cannabis, with senators discussing its public health implications, government consultations with Indigenous partners, and proposed committee studies. The Senate also discussed other bills and inquiries, including amendments to the Criminal Code (Bill S-237), and debated matters related to Indigenous issues, maritime safety, and corporate governance. A question of privilege was also raised regarding a breach of confidentiality.

On March 20, 2018, the Senate sat and proceeded with various items of business. The Senate welcomed two new senators, Martha Deacon and Yvonne Boyer. Senators made statements regarding the Paralympic Games, the late Asma Jahangir, the Honourable Joyce Fairbairn, the International Day of La Francophonie, Crossroads International, and the late Cece Hodgson-McCauley. Routine proceedings included the tabling of several reports from the Public Sector Integrity Commissioner and the Parliamentary Budget Officer, as well as a government response to a committee report and reports from the Canada-China Legislative Association. A notice of motion was given regarding the Fisheries and Oceans Committee meeting during a sitting. Question Period followed, with questions and delayed answers on various topics including shipbuilding spending, veterans' pensions, the Olympic team, immigration, employment insurance, infrastructure, the Port of Montreal, the Canada Summer Jobs program, high-speed rail, and Bombardier Inc. The Orders of the Day included continued debate on the third reading of Bill C-25 (Canada Business Corporations Act, etc.), and second reading debate on Bill C-45 (Cannabis Bill) and Bill C-58 (Access to Information Act and Privacy Act). There was also debate on a motion regarding the Trans Mountain Pipeline Expansion, a motion concerning the Prime Minister's trip to India, and an inquiry regarding Senator Claudette Tardif. The Senate also considered a report from the Banking, Trade and Commerce Committee on Bill S-237 (Criminal Code - criminal interest rate). A second reading debate continued on Bill C-211 (Federal Framework on Post-Traumatic Stress Disorder). The Senate also proceeded to second reading debate on Bill C-66 (Expungement of Historically Unjust Convictions). Finally, a motion to urge the government to fulfill its commitment to the Trans Mountain Pipeline Expansion was adopted.

On March 27, 2018, the Senate of Canada sat and conducted various procedural business. The artifact includes records of Senators' Statements, Routine Proceedings, Orders of the Day, and Question Period. Notably, there were debates and discussions related to Bill C-70 (Cree Nation Governance Agreement), Bill C-51 (Criminal Code amendments regarding sexual assault and jury selection), Bill S-237 (amendments to the Criminal Code regarding the criminal interest rate), and Bill S-238 (ban on shark fin importation). The Senate also debated motions regarding the Trans Mountain Pipeline Project and the rules governing Senate committee reports. Question Period included discussions with the Minister of Natural Resources on topics such as the Trans Mountain Pipeline, clean energy, and NAFTA negotiations. The sitting concluded with the adoption of the twenty-first report of the Standing Committee on Internal Economy, Budgets and Administration.

On April 19, 2018, the Senate convened its sitting. The Senate considered and adopted the twentieth report of the Standing Senate Committee on Banking, Trade and Commerce concerning Bill S-237, an Act to amend the Criminal Code (criminal interest rate), with amendments. Following this, the bill was scheduled for third reading at the next sitting. The sitting also included various other proceedings such as Senators' Statements on notable individuals and events, Routine Proceedings including notices of motions, Question Period covering topics like the oil and gas industry, NAFTA negotiations, and cannabis legalization, and the consideration of other committee reports and bills.