Excuse me, I misspoke. I meant to say that the question was on whether the chapter would prevent Peru from taking a privatized social security system and making it public.
The answer is no. The chapter doesn't prevent a government from making anything public, and the parties to the agreement can take reservations against the chapter.
But more specifically, I think the question was with respect to expropriation in the context of making a social security system public. There's nothing a Canadian investor could do to prevent Peru from taking a private social security system and making it public. If a Canadian investor in the sector had an investment that was being expropriated as a result of making the system public, that Canadian investor could insist on fair market value compensation for its investment. That is what the agreement would enable a Canadian company in that sector to insist on, but it would not prevent the Peruvian government from making its social security system public.