Thank you, Madam Chair, and thank you, Mr. Scott, for joining us this afternoon, as well as your counterparts from the CRTC.
I'll open on something you mentioned in your opening comments about part II licence fees. I just want to make sure I understand this correctly. Effectively, part II licence fees are a tax on broadcasters that goes directly to the government. The CRTC doesn't keep any of the part II licence fees, and 100% goes to the government's consolidated revenues. Is that correct?