Not exactly, because at the end of the day you have to be able to demonstrate that control in fact is not exercised by non-Canadians. So if non-Canadians have less than the voting control but own most of the non-voting, then you tread into the ground of whether or not control in fact is in the hands of non-Canadians.
Having said that, you're right, there is lots of opportunity for foreign investment under the current rules. The last bastion, if you will, is whether or not we tip over into control.