Thank you very much.
This amendment stems from correspondence we received from the Standing Joint Committee for the Scrutiny of Regulations regarding their concern that the Air Canada pension plan solvency deficiency funding regulations and the Air Canada pension plan funding regulations, 2009, were made without proper statutory authority.
Subsections 39(2) and 39(3) of the Pension Benefits Standards Act allow regulations made under the act to apply generally to all pension plans or specifically to one or more pension plans, or to one or more classes of pension plans. These authorities came into force in 2010. Essentially, this amendment deems those two subsections of the Pension Benefits Standards Act to come into force prior to the making of the Air Canada regulations, thereby ensuring the validity of both those regulations.
I'd be happy to answer any questions.