Thank you, Mr. Chairman. As you know, our illustrious chairperson of the Standing Committee on Legislation has changed jobs and the committee doesn't have a chairperson at this time, so I will proceed to report on Bill 3, An Act to Amend the Judicature Act.
The Standing Committee on Legislation has completed its review of Bill 3, An Act to Amend the Judicature Act. The committee held its public hearing on this bill on December 13, 1994. The committee did not receive any presentations from the public regarding the amendments proposed in this bill.
In February 1992, Parliament enacted the Miscellaneous Statute Law Amendment Act, 1991, which provided for the repealing of provisions of the Interest Act of Canada that fixed the rate of post-judgment interest for the western provinces and the territories. These provisions are to be repealed as each jurisdiction brings into force its own legislation governing post-judgment interest. The Interest Act provisions will continue to apply in the Northwest Territories, pending the enactment of the amendments contained in this bill.
The committee reviewed the amendments proposed in Bill 3 and supports the changes to the calculation of prejudgment and post-judgment interest rates proposed in the bill.
Therefore, on December 13, 1994, the Standing Committee on Legislation passed a motion that Bill 3, An Act to Amend the Judicature Act, was ready for consideration in committee of the whole. Mahsi cho.