If the directors or officers of a Canadian corporation provide incorrect information, they'll be liable to six months in prison. I'd suggest they be careful because they'll have a positive duty under the act.
The issue of extraterritoriality was raised. So if 128 countries establish a beneficial ownership registry, it will be increasingly difficult to maintain tax havens. The more countries that have this type of registry, the harder it will be to maintain those tax havens. The international community is committed to this path.
Getting back to interoperability, which is essential, if our registry isn't compatible with those of other countries because we haven't amended the provision regarding 25% of the corporation's stock, it'll be harder for people looking for that information. That's why it's essential to have a common basis under this bill.