Thank you, Mr. Chair, and thank you to our witnesses here today for the work they do for Canadians.
In regard to this conversation, going back to Summerland Credit Union, one of the staff mentioned this point. I raised it with Minister Flaherty, who at the time looked at it and then eventually came back and took action with regulations and so on.
Maybe, Ms. Ryan, you can lend some clarification on this subject. Parliament has already delegated the authority to the Minister of Finance. The Minister of Finance used his delegation power at the time to put in the regulations.
I do know that one thing regulations offer is flexibility if there are changes or circumstances that allow for it to be changed, so when we go back now and put it back into the actual law, that cements it much more and reduces the flexibility of the bureaucracy or the minister to be able to respond.
What I see from what you said is there's not going to be that much difference that Canadians will notice. Second, to me it actually takes away the flexibility of the Minister of Finance to be able to clarify things in a timely basis.
Can you confirm whether or not that's the case?