It is being set up under the accountability of the minister, but it will be providing independent third party advice to the minister. It will not be part of the normal DND governance process. They will continue to define requirements, work on requirements. But before they go to the level of decision, there will be an independent third party panel that will directly challenge them and provide advice on whether they think a good job has been done or whether there are holes in it.
On November 6th, 2014. See this statement in context.