Quite frankly, that's more or less the way it's going to operate. The province is going to inform the federal government that it has legislative measures that protect recipients of payday loans and that provide for limits on the total cost of borrowing under the agreements. Once they have advised them that they have those measures, the designation will flow from that.
There's really no intent here for the federal government to pass on the adequacy of the provincial legislation. That will be for the province to decide. It simply has to have certain very basic characteristics. One is that it be legislation that protects recipients—I don't think that's going to be a problem in any province that seeks this exemption—and that they have some other limit on the cost of borrowing other than the 60% limit prescribed by section 347. Since section 347 is going to be displaced by this exemption, the federal Parliament would be saying, here's the requirement for having the limit that section 347 otherwise imposes lifted: that there be consumer protection and that they have another limit on it. That's all.