Both of these are a statutory authority, which was granted by Parliament in the budget bill for 2009. The transition office is an organization, which is set up. It has a three-year mandate. Its job is to lead the effort of the federal government to create a Canadian securities regulation regime. It is charged with advising the government on the drafting of the Canadian securities act. It has an advisory committee of participating jurisdictions with whom it meets to discuss these issues. It is also obliged to publish a plan, a transition plan, within a year of its establishment. That deadline will be this coming July.
The budget bill gave it a total budget of $33 million, and $11 million is its plan for expenditures in the current fiscal year.