Finance committee  They're in proposed subsection 124.46(16) on page 173.

Finance committee  I don't have the information in front of me. It would relate to any insurance companies, so it would exempt the insurance companies broadly.

Finance committee  It would exempt any dividends received by an insurance company in respect of a share that's held by the corporation in the ordinary course of its insurance company business, as well as if the share is received through a mutual fund trust.

Finance committee  If they're holding the share in connection with their insurance business, yes.

Finance committee  It's a benefit that would, generally speaking, be conferred on the insurance company, but what we have heard from some insurance companies is that that cost would be passed on to policyholders if the amendment was not made. Directly speaking, under the existing rules for financ

Finance committee  I think it's a policy decision and a political decision whether to provide an exemption for financial institutions more broadly or just for insurance companies. I think one of the concerns is that the insurance companies, in particular, have pointed to a number of products for wh

Finance committee  I will respond to that. To ensure that my answer is clear, I'll respond in English. With regard to the first question, yes, it is common to announce changes that are tightening, for them to apply on a perspective basis and for that to be before the legislation is ultimately intr

Finance committee  I'll speak about the EIFEL amendments specifically. It was first announced in budget 2021. The detailed legislation was first published at the beginning of 2022. It is common for changes, especially tightening changes, to be announced and then made prospective from when they are

Finance committee  Yes, the revenue has been booked for the rules. I would have to find.... It would be what was in the budget.

Finance committee  Yes. If there was an amendment that would effectively make the rules narrower, it would have costing implications, and, yes, that would require a change to the revenues that have been booked.

Finance committee  Yes, the rules apply generally to taxes beginning on or after October 1, 2023. A wide number of clauses in here deal with EIFEL rules, and at the end of each clause there's the coming-into-force provision. The main clause that deals with EIFEL rules, or one of the larger ones,

Finance committee  Yes.

Finance committee  I think it would make it so that the exception would be limited to the types of energy that are listed in the amendment right now. If I understood correctly, that would then exclude natural gas, and I think there was a second thing that would also be excluded.

Finance committee  I can speak to the amendment. Following up on what I said earlier, the approach that's taken in this bill is to provide broad exemptions that are not sector-specific. As I mentioned earlier, our analysis is that the group ratio rule I discussed should in most cases provide the a

Finance committee  Yes, I am aware of that. I'm not sure if we've met with that specific stakeholder, but we have met with stakeholders on that issue. We obviously can't say what a company will choose to do if they do have increased taxes as a result of this measure or any measure. They can pass t