July 13, 2018 11:30
The industry might have to wait a few more weeks before being able to read the final legislative text resulting from the proposed act 141, passed in mid-June.
Following its adoption, and its penalty, the Commission of Québec’s public finances has transmitted the content to the Direction of the edition of the national Assembly, who must write. Then, it will be forwarded to Publications du Québec, which will broadcast on its website and publish in the Gazette officielle du Québec.
It is impossible to say how long the process will take. Tony Gagnon, team leader to the official edition of Publications Quebec, noted in the Journal of insurance that bill 141 was very large. As several projects of law were adopted in mid-June, he said that he had expected that the text of the legislation arising from the bill 141 will be among the last Publications Québec will receive, perhaps at the end of the summer, » he said.
The amendments will slow the process
Mr. Gagnon also raises the number of amendments to a draft law slows down the process. On the Web site of the Commission of public finances, the document listing the 373 amendments to bill 141 is 394 pages. To do this, it is necessary to add 9 pages of articles of the law that have been removed during the process.
The original text of bill 141, called the Law, mainly aiming at improving the supervision of the financial sector, the protection of the money deposits and the plan of operation of financial institutions, was 488 pages long and consisted of 741 articles, including several in which change other laws.
In the meantime, the industry must be content to bind the amendments adopted by the Committee on public finance to the original text.