Madam Speaker, comply or explain is one way we can go about having gender equity on boards. It is important to note that this is only the second time this bill has been looked at and amended. We are looking at 40 years of not being actively engaged on this file, and we have seen a lot of financial issues that affected Canadians not only here at home but internationally.
The minister is looking at a comply or explain strategy, but why not take the full step and set targets to chase after to ensure that we do not have to wait around to see what is next.
Some jurisdictions that have gone with this have not been successful in making the transition, so I would suggest that perhaps we need a stronger stick. The carrot-and-stick approach is often used with corporations that have not been doing a good job with regard to some of the equality issues we have had to deal with, and this is one of them. It is not just in Canada, in particular. We are in a time when we need to make sure that there is going to be greater enforcement.
If that is not going to work, I would ask if the minister is open to an amendment I will be proposing that there be a review of this legislation within five years. I want to ensure that there is actually going to be a continuation of this goal of having greater equity in boardrooms across this country. I believe that there will be quite a discussion about comply or explain at the end of committee deliberations, but what is the backup plan?