Mr. Speaker, I thank the hon. member for his question and for his interest in financial institutions legislation.
Perhaps the hon. member is aware that I made remarks in Toronto recently on the question of Compcorp. I recognize it has been effective. If they will make some adequate changes to Compcorp we will certainly consider not proceeding with our policy protection board.
The four conditions I set out at the time are: revised corporate governance for Compcorp; greater access to privately financed resources; the capability of levying higher assessments if necessary; and, finally, to ensure the ability to arrange going concern solutions. These are the minimum changes that we would require from Compcorp and we would hope the private sector would answer those concerns.