Thank you. I would be happy to speak to that. I'll start with the wage subsidy, but the considerations for the rent subsidy are exactly the same, I think.
Paragraph 24(9)(k) of the base percentage definition, towards the bottom of page 30 of the bill, at line 27 or 28, sets the nil base rate that we discussed earlier for the wage subsidy for the last two qualifying periods, and it allows for the flexibility—should the government decide to effectively extend the wage subsidy into those two periods, as circumstances may require—to set new rates by regulation.
The specific wording in paragraph (k) says that a percentage can be determined by regulation in respect of the eligible entity. There's a lot built into those words, but the idea is that if you have an eligible entity that is basically an applicant for the wage subsidy, you can determine by regulation the appropriate rate that applies in respect of that eligible entity. It allows for determination by regulation and the idea that different rates can apply in respect of different eligible entities; it's not just one rate that applies across the board. The idea was that the ability to determine different rates in respect of different eligible entities would provide for that kind of flexibility.