Thank you. Now, I understand your question more clearly.
Yes, a cooling-off period must be provided in order to meet the obligations of the Bank of Canada with regards to conflicts of interest. These obligations probably need a cooling-off period that is established with reference to the person's next job. This is absolutely clear.
For instance, if Mr. Hodgson worked in the academic field, he would not necessarily have to go through a very long cooling-off period. It would be different if he had to fill another position in the private sector, as you said.
I can therefore reassure you that the rules and the practices of the Bank of Canada are adequate.
They are put in place to ensure that any transition will be above reproach.