Mr. Speaker, in the bill as it currently stands, the measures apply essentially to foreign membership in boards of directors. That is the issue at present. In our opinion, this is acceptable as long as a majority of the directors are resident Canadians. With regard to officers of institutions, I must admit that I have never considered whether a problem actually existed or whether this was something that could eventually pose a problem.
However, I am convinced that if this issue were to be brought before the Standing Committee on Finance, the committee would examine it carefully and consider whether amendments should be added to place certain restrictions on officers. We believe that the measure currently proposed for directors is reasonable.