Thank you, Chair, and thank you, witnesses, for being here.
I'm going to start off with questions that were raised in a letter presented to Chair Sweet. It's addressed to the Honourable Joseph A. Day, senator and chair. It is from the Canadian Bar Association.
They have three questions relating to the changes that you've talked about. I'll read them one at a time. I'm not sure that time is going to permit, but I'd like to ask for your response to their questions. If we have time to get through all three, all the better, but if not, perhaps one of my colleagues can follow up in subsequent questioning.
The first question is:
The definition of state-owned enterprise (SOE) is unclear and, in conjunction with new powers that allow the Minister to deem an entity an SOE, make it difficult to ascertain whether an entity will be treated as an SOE under the ICA. As drafted, even Canadian companies could be subject to the SOE review provisions. The broad reach of the SOE definition engenders uncertainty for all investors.
Could you respond to that question?