Thank you, Mr. Chairman.
Ladies and gentlemen, I thank you for being with us this afternoon to answer our questions.
I would like to put my first question to Mr. Gray. In your presentation, you asked why have a board of directors when one is not necessary. I would like to know if there is an incorporation model in the Canadian Business Corporations Act where there is no board of directors. This implies that a person would have to be the owner or the agent.
I would like to know whether this model, where there would not be a board of directors, exists anywhere.