Sure. Briefly, I think what we would say is we would be prepared to accept this motion with one small change. Part (a) is acceptable as it makes a necessary technical change, in our opinion.
But on the last line of that motion, we would ask that it now read “with the requirements of sections 6, 6.1 and 9.6”. These refer to some of the requirements that are put on insurance companies in respect of their foreign operations. Proposed section 6 covers the record-keeping requirements, and proposed section 6.1 is the client ID requirement. Not having proposed section 6.1 in here would remove a client identification requirement on these companies, which is very important.