My name is Annie Hardy. I'm going to give you a brief overview of this section.
The first Jobs, Growth and Long-term Prosperity Act permitted certain public sector investment pools to invest directly in Canadian financial institutions to provide access to stable long-term investment. The amendments in part 4, division 1, are consequential to the initial provision in Bill C-38 and implement technical and coordinated changes to support the previously legislated policy.
The objectives of the amendment included in this bill are to ensure the new ownership framework for public sector investment pools is harmonized with the current ownership framework for other types of investors, and to clarify that the minister has the exact same powers for this new framework for public sector investment as he has with other investors. Thank you.