Yes, Chair. I will provide that. I'll actually provide an overview for clauses 189 to 192, and then I can go through them each individually.
On what this division does, budget 2021 proposed the establishment of a revised federal framework for multi-employer negotiated contribution pension plans that strengthens planned governance, transparency and the sustainability of benefits. Negotiated contribution plans are a type of defined benefit plan with multi-employers that are also a bit unique in that contributions are fixed by an agreement, so employers are required to contribute only the amount set out in the agreement. Clauses 189 to 192 cover the legislative amendments required to establish this revised framework.
Clause 189 amends the Pension Benefits Standards Act to set out new requirements for negotiated contribution plans to have both governance and funding policy, as well as other requirements related to those policies. An example of such requirements would be a transition period for existing negotiated contribution plans to set up a governance and funding policy, as well as regulation-making authority with respect to the content of funding and governance policies.