Thank you very much, Mr. Chair.
Thank you, Ms. May, for your comments.
I have a couple of things, one of which I would like to point out in a second to get a clarification from our officials.
First, a number of those amendments that are being proposed again bring us back to the comment about restrictions within the IGA that would ultimately make the IGA non-implementable, which would ultimately lead to the U.S. imposing FATCA on Canada itself in the absence of an IGA. I can't support that and just to confirm that with the official....
Also, if you wouldn't mind, perhaps you could take us through a new subsection 265(5) which also relates to if the Canadian financial institution discovers U.S. indicia in the electronic search. Would you take us through that? There is a process that they need to go through to seek to review the information on whether it is in fact correct.