In order to meet the situation my hon. friend suggests, why not exclude drafts from the operation of the section? The section, as I understand it, was designed as a deterrent to banks in charging an excess rate of interest.
differentiate between a draft and a promissory note. If the objection is valid against one it is against the other. But I have never been able to see what purpose was served by having the rate of interest or the discount appear on the note. There might have been reasons given but unfortunately I was not present when the committee dealt with this clause.
Motion agreed to; amendments read the second time and concurred in.
Hon. W. R. MOTHERWELL (Minister of Agriculture) moved the second reading of bill No. 241 to amend the Dairy Industry Act 1914.
Motion agreed to bill read the second time and the House went into committee thereon, Mr. Gordon in the chair.
On section 1-Definition.
William Richard Motherwell
(Minister of Agriculture)
There is a slight omission in the bill as printed. I move that a new section 1 be added as follows:
Paragraph (k) of section 3 of the Dairy Industry Act, 1914, chapter 7, of the statutes of 1914, is amended by striking out the word "or", in the second last line thereof, and substituting the word "and" therefor.
(d) provides that no person shall manufacture, import into Canada, or sell any milk or cream which contains any fat or oil other than that of milk. Would it not make it more clear if, after the word "cream',, the words "or substitute therefor" were inserted?
There may be some stocks of filled milk or filled cream on hand by some dealers and it was thought advisable that the section relating thereto might not come into force until the dealers have had time to get rid of those stocks. I therefore move that there be added to the bill as section 7 the following provision:
Section 3 (original section 2) of this act shall not come into effect until October 1st, 1923.