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Industry committee  It's $25,000 per day per infraction. It can accumulate rapidly, and certainly much more than $10,000 per day per infraction. If, for example, a company fails to adhere or comply with an aspect of the act and it's taken, say, three weeks, that's $25,000 per day per infraction over a three-week period.

April 26th, 2023Committee meeting

James Burns

Industry committee  Yes. In fact, the vast majority of investments are cleared within 45 days.

April 26th, 2023Committee meeting

James Burns

Industry committee  Thank you very much, Charles. One thing I wanted to note for members is that the Canadian regime is, as Charles noted, quite well respected, not just with our partners in the United States and CFIUS but also with other Five Eyes partners. Canada, last year, was the first country to receive accepted state status with the United States, with CFIUS, so it's an example of the tight relationship we have with them in terms of their buying into the strength and robustness of our regime.

April 26th, 2023Committee meeting

James Burns