Let me just deal with definitions first.
I flagged the concern about the capture of a U.S. entity or foreign entity by a de minimis investment. I think that can be corrected by looking at proposed paragraph 11(c) carefully and just putting the word “Canadian” back into proposed paragraph 11(c), which doesn't exist, before the word “entity”. It would be a “Canadian entity”, and “Canadian” is defined in the act. Then there are other provisions, and people who do more competition law talk about the size. Then there are prescribed activities.
Losing that notion of it being an investment in a Canadian entity—all or part Canadian—I think is something that needs to be addressed at the legislative stage.