Finance committee  Safeguards on borrowing or investment risks are not part of the tax act per se. They're part of provincial pension standards legislation and the federal Pension Benefits Standards Act. In doing our internal analysis, we responded to the stakeholders who wanted a bit more flexibility in borrowing on their defined benefit plans, and gave a small, limited amount to do the borrowing.

Finance committee  Many of the provincial acts point to the federal statute, which says in a certain schedule that there are some investment concentration limits. Not more than 10% of your investments can be in any one entity. You cannot take a 30% or greater stake in certain entities. There are those types of investment concentration limits.

Finance committee  The tax rule itself does not prescribe, so presumably you could put 20% into one entity, but I think those other safeguards in the provincial standards rules would probably prevent a large, mass multi-billion dollar investment into any one entity.