Thank you.
I would just remind you that these clauses deal with the government's work to continually strengthen and modernize its anti-money-laundering and anti-terrorist-financing regime. At the previous testimony we spoke to earlier clauses that would implement a cost recovery model for Canada's anti-money-laundering and anti-terrorist-financing regulator and financial intelligence unit, FINTRAC, to recover its compliance costs from reporting entities.
Clause 171 is the regulations-making power of the act, which would enable the regulations that would detail the cost recovery scheme for FINTRAC's compliance activities.