It's a big question. Bill C-55 and the amendments proposed to the Oceans Act in particular are part of a set of initiatives. The cod issue, back in the early 1990s, was a siren call for many. We have adjusted how we manage effectively. The Oceans Act actually came five years after the closure of the cod fishery in the early 1990s. It was passed in 1997. It was part of a response. The other piece that was part of a response is a precautionary approach. We're late to the game on that, but we have an enormous set of tools.
One of the tools that we have now to address managing the oceans is the Oceans Act, and specifically marine protected areas. It is one of the tools. There have been assessments done. The objective is to protect biodiversity. The objective is to say we know what the sensitive species are, the key species, the key habitats, and we need a tool to protect those key habitats and species. Marine protected areas are one of those tools, and Bill C-55 speaks directly to improving how we use them.
I'll go a little further. Ecologically and biologically significant areas have been identified. Usually we say what the key species are that we need to protect, the key habitats, corals, sponges, seamounts, and so on, that we need to protect. That work is being done. Bill C-55 gives us the tools to provide the protection where we've identified what needs protection. It is part of a set of tools, a really important part. The objective is to protect biodiversity, and frankly, to get more out of the ocean over time, to help recover oceans and to ensure that fisheries and other important ocean products can do well into the future.