That being said—and I understand what Mr. Wallace is saying—I think he's maybe crying wolf a little here, because almost every case is going to be a case of a company or a corporation going bankrupt that either has a plan or a collective agreement in place or that does not have a collective agreement in place. In either case, exactly what the minimum requirement for that company to pay severance or termination is set out, whether or not there's a collective agreement.
If there is not a collective agreement, the standards in the territories and the provinces would apply in that particular case. There always have been minimums set out. In Ontario, I believe it's one week for every year that has been served. I don't think anybody in this room disagrees with that as a very bare, minimum standard.
If there are collective agreements that call for more, of course they would supercede the standards in the provinces and in the territories, and the collective agreement would kick into place.
But I can tell you, Mr. Wallace, that in my experience collective agreements are not that much richer than whatever the minimum standards are in the provinces and territories. When you see $300,000 severance packages, or $1.7 million severance packages or more, they are out of the realm of this sort of bill; it's not dealing with those. That would be the case of someone like Ms. Clitheroe and Hydro One, and those sorts of things, which this doesn't really deal with. So I would suggest, Mr. Wallace, that you're being overly concerned about this.
That being said, I believe that we have gone through a rigorous process. I can tell you that I certainly have been through a rigorous process with this bill, as has everybody who's been watching this bill and everybody in this committee. So we have reached a point at which we are ready to wrap it up. Mr. Chair, I'm quite happy to do so at this point.