Thank you.
We were sympathetic to the representations made by the chair of the Canada Pension Plan Investment Board that it may in fact be difficult for them in a very competitive investment market to attract the kinds of investors they're seeking if those investors had any fear that even 20 years down the road their private information might be disclosed through an access to information request. We are sympathetic to the fact that it's a very highly competitive market and any small thing may alter their choice to invest.
So having said that, what we're seeking to do is remove any reference to the 20-year cooling-off period or shelter period, so it would now read that:
20.3 The head of the Canada Pension Plan Investment Board shall refuse to disclose a record requested under this Act that contains advice or information relating to investment that the Board has obtained in confidence from a third party if the Board has consistently treated that advice or information as confidential.
In other words, they would be able to maintain the status quo that no one has access to that information, for good reasons and for the benefit of all of us, because this is the Canada Pension Plan Investment Board that we're dealing with, and we all have a vested interest in its ability to operate effectively.