My friend opposite has corrected me. It is 30%. That is the limit on foreign investment of our Canada pension plan funds.
The last amendment in the bill has to do with accountability. All of us in the House are true believers in the process of accountability. The trick is to get the right mechanisms that reflect what is happening with these types of investments to allow at least trained observers, and some untrained observers like most of us here in the House, to assess how the pension plan is doing.
The final amendment which I am referring to with regard to Bill C-3 relates to changes in reporting mechanisms for the Canada pension plan. In saying that we want good and effective reporting mechanisms, I have to point out what is probably obvious to most of us, which is that in requiring our public pension plan to report, it is important that we not remove from our pension plan the ability to make appropriate moves with respect to investments.
If a large fund is going to make a big investment, it probably is not a good idea to announce it in advance. Sometimes the movement of moneys in capital markets needs appropriate levels of confidentiality before and after they are moved to protect the integrity of the investment. At the end of the day, there is no confidentiality. It has to be reported. It has to show up on the books. Reporting mechanisms that we design and put in place have to take into account the need for large pension plans like this to operate with reasonable confidentiality and integrity as they move our money around.
That is the list of housekeeping reforms. All of them are important in their own way. I hope I did not diverge too much onto other issues. We are back on relevance and back on focus on this very boring bill. Maybe there are some questions from members about this very important subject.