It should be clear that this is an analytical view and not a personal one. I come to this from the perspective of simply the analysis that we have been able to undertake as the government department responsible for this statute. I'm trying to bring to bear what we have heard, seen, analyzed and understood through the research and other that we've undertaken.
It is worth noting that, leading up to the changes we made to the Bankruptcy and Insolvency Act and the Companies' Creditors Arrangement Act, alongside significant changes, as well, to the Canada Business Corporations Act, as part of the retirement security project in 2019, we held significant cross-country consultations that actually were wide-ranging in terms of the number of options and considerations that we raised vis-à-vis the possibilities for enhancing retirement income security. Those retirement income security consultations did look at a number of potential options for implementation, including that of a superpriority for unfunded pension liabilities.
We heard from insolvency professionals, from the Canadian Bankers Association and from the Association of Canadian Pension Management. We had submissions from FETCO, various federal employers, pension experts, [Technical difficulty—Editor] pension benefit experts, credit unions and others.
The subsequent piece of legislation that emerged from that was clear in terms of the consultations, so I think it is worth going back to the many entreaties that were made as part of that. Obviously, many of them were similar to what you heard in the witness testimony, suggesting that there is positive support for a superpriority for unfunded pension liability, sometimes with some caveats around the notion that, obviously, recognizing that—