Thank you.
As you pointed out, this is used in very rare circumstances. It adds complexity to this act, and we've all talked about the smaller not-for-profit organizations out there that do not have the benefit of those who can interpret this act. It is used in very rare circumstances. It's found in other provinces and statutes. Most specifically, part 6 is found in the Uniform Securities Transfer Act, which is by and large Canada-wide.
Part 7, as I understand it, is not currently in federal law. It's covered in both Ontario and British Columbia as it exists today, and most trust indentures would be national in scope, so they would be captured by those jurisdictions. This is a huge part of the act. For ease of purpose and because it has been recommended to us for the fact that these are used in rare occurrences and found in other jurisdictions, I would suggest that we could remove them from the bill.