Industry committee  I'm assuming it's the amendment to the definition of public accountant.

Industry committee  Yes.

Industry committee  This has to do with the definition of public accountant. It is based on a comment from the Canadian Bar Association. The definition as it's currently drafted in the bill references the two main ways a public accountant is appointed, either when the corporation is first created or at each annual meeting.

Industry committee  No. Corporations Canada has undertaken to cover off, out of its regular budget, whatever is required with respect to the transition associated with this bill. We anticipate a fair number of documents having to be written, some of which we worked on after Bill C-21. So we're starting from a base; we're not starting from square one.

Industry committee  I am Corporations Canada—

Industry committee  —and we have our own budget. That's independent of the A-base we get from the government, and therefore it's budgeted.

Industry committee  We do a yearly business plan, but at the moment this has not been worked into it. This has unfortunately been a bill that's been on-again, off-again, so it's very much going to depend on what year or when it finally gets royal assent.

Industry committee  With respect to soliciting, as Wayne said, there are five obligations. The way the definition works is that if you have received more than $10,000 in income from either the public or from the government, in the course of a year you become soliciting for the purposes of three years—the three years following, which we feel are the three years you're using public money and therefore should have the increased obligations.

Industry committee  The thinking was at the time that you now have public money. You should not have one director; you should have three, so you have better oversight of the organization. We didn't want somebody to do a really good fundraising year and then dissolve and split that money between the members.

Industry committee  The way we've structured it is if you are a soliciting company with less than--

Industry committee  You are required to have a review engagement. The members can choose to have no review. There's been some confusion, I think, on how the financial levels work.

Industry committee  Yes.

Industry committee  It's $50,000 for a soliciting corporation and $1 million for a non-soliciting corporation.

Industry committee  The basic idea behind the act and the regulations was that any fundamental principle has to be in the act. Anything that would be considered a detail should be done in a regulation, and if it doesn't have to be spelled out as a law, it's done under the director's control with respect to a policy.

Industry committee  They can change. If they want to change it manually, they can go ahead and do it.