Finance committee  That's correct. This is a bit of a standard formulation in the CBCA. You will see it in other provisions. For example, the director of Corporations Canada already corrects information on the directors of the corporation, so it's a similar formulation.

Finance committee  It's an international standard, so in the CBCA “significant control” is defined as 25%. For example, there are different criteria. It's not only share-holding. In the past we would define “control” just by ownership of shares, but it's broader than that. It's all forms of control.

Finance committee  Yes, that will be done.

Finance committee  Yes, we will do so in writing.

Finance committee  I can take this one, Jennifer. Yes. It's already defined in the CBCA, the Canada Business Corporations Act, pursuant to prior amendments—the 2018-19 amendments that I was referring to earlier.

Finance committee  Thank you for the question, which I'm happy to answer. First of all, I would like to say that the standard is already established in Canada and is in line with the international standard, because we have been working on beneficial ownership transparency for some years now. For some years now, companies under federal jurisdiction have been required to collect information on their ultimate beneficial owners.

Industry committee  I'm from the marketplace framework policy branch, so of course I'm going to talk about the importance of not forgetting visible, sound rules for the market, but also making sure that it's a level playing field so small businesses can compete on the merits and not be faced with abuse, for example, from large players.

Industry committee  Thank you for the question. The government has decided to proceed in a kind of two-step process. In the mandate letter, the Minister of Industry was tasked with doing a comprehensive review of competition policy. In the budget that was just released a couple of weeks ago, there was a commitment to do this in two phases.