There was considerable discussion about what the threshold was. The rationale for the 25% arose from two functions. One is that it corresponds to the current obligation, under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act, so we see that this as a belt-and-suspenders approach. Financial institutions are required to ask those entering into financial transactions with their organizations and entities to provide beneficial ownership information and then this would allow corporations to hold it in a particularly easy manner.
The other rationale is that we were trying to find the sweet spot between administrative burdens on corporations. For the Canada Business Corporations Act alone, there are more than 800,000 corporations in Canada. Ninety per cent of them are small and medium-sized enterprises and it should be noted that most of them have fairly simple corporate structures. The goal was, essentially, that we included control in fact, to get at the issue of being able to ensure that we were routing out the behaviour that's the problem, which is the use of the corporation to be able to evade tax or launder money.