Thank you, Mr. Chair.
The proposed amendment to section 15 specifies that the investments that are subject to the new pre-implementation filing requirements that are described in clause 2(1) shall not be reviewable for the purposes of section 15, but section 15 will continue to apply to transactions referred to in paragraphs 11(a) and 11(b) of the unamended act.
The amendment is made so that section 15, which allows the review of investments related to cultural businesses, would not inadvertently capture investments subject to review under the new pre-implementation filing requirement.
It's a technical mechanism, because there could have been confusion where a transaction would have seen them fit under two different parts of section 11, leading to an argument that their transaction was exempt from section 15, based on the original wording, which was not the intent.