Thank you, Mr. Chair. What I'm hearing here at the table are two different perspectives.
The word that has popped up a number of times is the word “self-regulation”. I confess, I used it at our last meeting when we had Transport Canada officials present here. I remember Mr. Preuss of Transport Canada actually becoming somewhat agitated and jumping into the fray, saying this is not self-regulation, that this is taking an existing regulatory process that is among the safest in the world and superimposing upon that an SMS system, which makes the system even more robust.
Mr. Adamus, am I correct in characterizing your understanding of it?