On the issue of “material non-public technical information”, we have a precedent in the United States. What we've seen in the reform to the CFIUS program, which is under the FIRRMA act, is that the term has been defined relatively narrowly and precisely. The Canadian Bar Association supports that definition in that it provides a degree of certainty as to what is captured by it.
The additional concern that the Bar Association identified, when this term was going to be set, was whether it would be in the legislation or in regulation. Given that there is uncertainty at the moment as to when regulations will be prepared and published, it seemed to us that it was important that the term be defined in the act itself.
The final point on that is just to mention that this term is not.... The term “prescribed business activity” may legitimately be a list of sectors that evolves over time as different sectors become more or less sensitive. “Material non-public technical information” may well be in the same category as that, but it is certainly an easier definition to reach and therefore perhaps more conducive to being included in the act, rather than regulations that could subsequently evolve.