To address the last question first, the way the convention is structured, you cannot opt out once you have opted in. In part, that also part, influenced the prudent approach taken by the government with respect to adopting the provisions of the MLI. Once you choose them, you have them forever and cannot opt out. You can, however, withdraw reservations, which has the effect of opting into provisions at any time in the future. Such a process would be done through an order in council, and it would be an update to the reservations and notifications Canada would have deposited with the depositary.
