Industry committee  I don't have any--

Industry committee  It's a very good question. It's definitely a policy choice for a statute of this kind to make--whether the exculpation or immunity of directors should go as far as we're suggesting. Lots of people disagree on it, and there are two views. The opposite view to this is that if you

Industry committee  It could happen. My first answer is that answer, is Mr. Gray's answer. But another approach is that if they want tax treatment as a non-share capital corporation, a non-profit corporation, they're going to have to file tax returns. They're going to be on the tax system's radar

Industry committee  I've done a bit of reading on it. There's Nova Scotia as well. It's for the reasons that I think we said.

Industry committee  I'm just looking for the excerpt that the Saskatchewan legislation itself is in.

Industry committee  On page 9 of the executive summary in the English version, recommendation 25, the statutory language is set out. It's a long description of a very simple idea and it's the idea I presented, which is that there's no liability and absolute immunity for any harm caused by a fault th

Industry committee  I can give you the top three items. Item 1 in the executive summary is just taking out a chunk of sections, just removing them. Item 2 is taking out part 7, trust indentures; it's just taking a bunch of sections and removing them. Item 5 is soliciting corporations; it's just ti

Industry committee  Those are pretty simple.

Industry committee  There was a submission in 2005.

Industry committee  I think it died on the order paper before there were committee hearings.

Industry committee  It's a very good question. When we debate it as lawyers, that's what we wonder: what is the essence of a non-share capital corporation? That's been the problem in drafting the legislation since the beginning of the century, both in Canada and the U.S. The approach that's taken

Industry committee  This has been in process for nine years. There was an extensive consultation process in the early 2000s, which we thought was excellent. That was on principles. This draft of the legislation has been in this form, more or less, since 2005. It's been available for lawyers and the

Industry committee  Mr. Chair, and honourable members, I'll take the remaining time to go through items 5, 6, 8, 9, and 10 in our executive summary. Just picking up on my friend's submission, both the charity side and the business side of the Canadian Bar Association think this is an excellent pie