The Ottawa Citizen from Ottawa, Ontario, Canada • 11

The Ottawa Citizea March 20, 1969 Page 11 ontroversial investment companies hill ordered redrafted tional and reporting regulations on investment frms which are outside government regulatory powers un; der insurance and banking laws. now," Senator Hayden added. The bill, which aims to protect the public from loss of savings in finance companies, would impose opera With him on the sub com- They decided to seek Senate alistic way with what we mitttee will be senators spending approval for any think the bill should be." He John J. Connolly (L On- expert advice they might said he could see changes tario), Paul Desruisseaux want to call on. were needed.

(L Quebec) and Jacques Senator Hayden said his "It may be that even Mr. Flynn (PC Quebec), group plans "to deal in a re- Humphrys expects that By The Canadian Press Government officials are rewriting a controversial government bill that would regulate the operations of investment companies, a government source has revealed. Simultaneously, the Senate banking and commerce committee Wednesday named four members to work out a detailed redraft of the investment companies bill. The committee, which has been hearing criticism of the bill from business representatives for several weeks, agreed to set up the redrafting group after learning that Richard Hum-phrys, federal superintendent of insurance, wanted to delay an appearance to respond to the criticisms. Mr.

Humphrys, who would be responsible for administering the bill, is working on changes that would require Finance Minister Benson's approval before they were reported to the Senate committee. Vaguely worded Critics have complained the bill is vaguely worded so that many kinds of business and industry would be drawn into supervision unintentionally. Senator Salter Hayden, (L Ontario) chairman of the Senate banking committee, won committee approval of his idea that he and three others should "discuss rewriting the bill." 1 You do not have to be an heiress to give your home that millionaire feeling AS A TRIBUTE TO OTTAWA'S GOOD TASTE AND THE ENTHUSIASTIC RESPONSE WE ARE CONTINUING OUR I 5 iS. IT 7" ru lxcitincj. anaaemen a SALE ORE WID DiNiNG ROOMS BEDROOMS Reg.

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