I'll come to that in a minute.
Section 25.1 of the act actually “applies in respect of an investment, implemented or proposed, by a non-Canadian”. The threshold does not apply. The tests apply to any transaction that is to take place. This lists establishing a new Canadian business, acquiring control of a Canadian business, and acquiring in whole or in part a Canadian business or the assets of a Canadian business. All the scenarios are provided for under section 25.1.
These are the two tests. In terms of how Canada compares to other countries in our trade obligations, I will turn to Richard.