Chair, the purpose of proposed amendment NDP-1 is to delete reference to new penalties under the FATCA intergovernmental agreement implementation. Clause 27 makes failure to comply with new section 267 an offence punishable by summary conviction. Obviously, we're not in favour, because we don't like the imposition of FATCA, as you'll hear when we get to those provisions.
That's what we're talking about. We're moving to strike the reference to new section 267 from clause 27 so that it is not an offence to not comply with this FATCA implementation measure.