For companies to whom offshore licences are issued, there is the 51% Canadian ownership requirement and the rules around notifying the department when there's a change in that corporate structure. If a company is not able to meet that Canadian ownership requirement, they would be ineligible to receive a licence. Licences are issued annually, so at the point of their “renewal”—I'll use my quotation marks; our lawyers don't like it when I talk about renewal—that is, the reissuance of the licence, that is a moment where that licence would not be reissued if the company were not to be 51% Canadian owned.
