Thank you very much.
I'd like to thank all four of you for appearing before us. I know you're all busy people, and it's always nice to see Mr. Blakely on the plane between Edmonton and Ottawa.
I really appreciate your comment, Mr. Blakely, on clarifying the exercise of discretion. I think that's a really good, broad comment and I appreciated it—within bounds, of course.
Mr. Miron, if I understood you correctly, you expressed concern about proposed subsection 48.12(5). It allows for more than $1 billion in compensation if prescribed by regulations. I'm wondering if you agree that the criteria for this, the further extension beyond a $1 billion, should be specified in regulations and that this regulatory process be open, transparent, and inclusive.
Would you agree that, absent those regulations, we lack legal certainty on if and when the obligation for compensation might exceed $1 billion?