We support the overall direction of the bill as it relates to the PSPIB. In respect of conflict of interest, the guidelines that were created previously create the potential for some difficulties in resolving issues as to whether board members who have expertise may be also faced with conflicts of interest. Under the accountability bill, because it follows the Canada Corporations Act and because our legislation is modelled on the Canada Corporations Act, we believe that uncertainty is eliminated and that the conflict of interest issues can be dealt with as provided in the accountability bill and as provided in the PSPIB legislation.
The second reason we would like to see speedy passage is that another of the provisions changes the term of directors from three years to four years. Because the work we do is so complex and expertise takes so long to build up, there is a great benefit to us in having four-year rather than three-year appointments.