Thank you, Mr. Chair.
I was going to go through each of the measures in the bill briefly, in the order in which they appear. If it would be helpful to committee members, I could also provide the relevant clause numbering for each of the measures. I understand this is a prestudy and the packages haven't been sent.
The first measure in the bill relates to what are called foreign divisive reorganizations and provide the appropriate tax consequences for a Canadian investor in a foreign corporation that essentially splits in two in a particular type of transaction. That can be found in clauses 2 and 39 of the bill.
The next measure amends the cross-border surplus stripping rules to apply appropriately and clearly in the case where partnerships or trusts are used in a cross-border structure. The cross-border anti-surplus stripping rules are an existing set of rules that prevent the extraction of retained earnings tax-free from Canada to a foreign investor. These rules ensure that when partnerships and trusts are used in a corporate structure, the rules work appropriately by essentially looking through the partnerships and trusts. These can be found in clauses 3 to 5, as well as clauses 14 and 21 of the bill.
The next set of measures—