It's an international standard, so in the CBCA “significant control” is defined as 25%. For example, there are different criteria. It's not only share-holding. In the past we would define “control” just by ownership of shares, but it's broader than that. It's all forms of control. It could be through debt. It could be through other means.
The definition is fairly robust and complies with the international standard. Again, that's been in place since 2018, when the first step was to have all federally regulated corporations know who their beneficial owners were. So right now, all businesses are already supposed to have in their register information about who their beneficial owners are. What this step does is centralize it. The director will collect it.