Mr. Speaker, I want to refer to subclause 26(1) in the bill. It states:
The Minister may enter into an agreement with an approved insurer under which Her Majesty in right of Canada reinsures some or all of the risk assumed by the insurer under insurance referred to in subsection 24(1).
Subclause 26(2) states:
The risks that may be reinsured are those that, in the Minister’s opinion, would not be assumed by an approved insurer without the agreement or those that are prescribed by regulation.
Subclause 26(3) states:
The reinsurance agreement may provide for the payment of premiums to Her Majesty in right of Canada.
Quite clearly, we see that the government then becomes the reinsurer. It is collecting the premiums. It is assuming the risk. This is not a question of a guarantee. This is a question of the government actually providing the services of the private sector in insurance.
We tried to remove this from the bill so we would have a more level playing field for nuclear energy, where nuclear energy had to stand on its own two feet. Does the member not think this should be excised from the bill?