The nature of PSP is about being a sophisticated and complex investor by fulfilling our mandate, which is delivering good return without undue risk of loss. We need to be very agile in investing. These contracts you're referring to, which were not subject to the procurement policy that PSP has, were investment-related contracts. If we take, for example, a private firm elsewhere, we need to be very agile and very fast to implement and to invest in them. This is why it's not part of the procurement process we have.
Evidence of meeting #21 for Public Accounts in the 45th Parliament, 1st session. (The original version is on Parliament’s site, as are the minutes.) The winning word was contract.
A video is available from Parliament.
