Thank you.
The issue of regulation 5907 was raised last week. Brian asked me to look at it. Regulation 5907 is, I think, 36 pages long. It attempts to give some coherence to this deduction in respect of dividends that are received from foreign affiliates. That's very basic. There's a presumption that in Barbados there is a rate of tax. It is a low rate of tax, but it is a rate of tax nonetheless. As long as we have a treaty with that country and there is a rate of tax applicable to the earnings there, no matter how modest, it is within the scheme of the act to allow those profits to return to Canada without a second incidence of tax.