Let me repeat that this legislation is a measure of last resort. It's really at the end of the road when we need it. We're saying that a number of measures are already on the table and that they need to be implemented. The challenge we're facing right now basically has to do with harmonization. When it comes time to implement certain measures, the problem is the hybrid regime that exists here in Canada. Certain corporations are registered at the federal level and others at the provincial level, but neither level can act alone in every area.
The most significant progress in that regard is the result of cooperation amongst the provinces, specifically through the work of the Canadian Securities Administrators, currently chaired by the president of the Autorité des marchés financiers. That association can take several initiatives. Corporate management culture in Canada has changed in many ways, for example, because of TSX rules. TSX imposes rules on companies that the legislation does not necessarily impose.
It's high time we had a national network to deal with all the problems associated with harmonization. We should be reviewing all of that, and we need to establish several steps that would help protect Canadian businesses, not only through legislation like this one, but some kind of atomic bomb. On a side note, the thresholds set for a company to be able to benefit from protection under this act are starting to get a little high for some companies. Take Bombardier for example. The company has about 2.5 billion shares, each worth about $0.50, but it just barely meets the threshold to be eligible for the protection mechanisms under the act. If someone wanted to purchase Bombardier tomorrow, it would be impossible to protect the company under this legislation.