Mr. Kevin Johnson:

It is in the context of new thinking about the implementation phase. Our member credit unions very much look forward to embracing these challenges, stepping up to the plate and embracing the voluntary approach to the restructuring. During a period of change, and particularly around consolidation and mergers, we do not want a situation where a board is totally focused on the merger and then taking its eye off the ball. It probably ties in a little with the next item, which is around the numbers. We merely want to ensure that the board maintains the appropriate level of experience to be able to implement and cope with the change, and also ensure that members and their communities continue to be served.

We put forward a suggestion - it has come up on several occasions already at the committee - simply looking at the existing code in the Central Bank which leaves it for the nomination committee to put forward a case where a director has particular expertise that would be needed for continuity. In the spirit of it, the concept of the term is not a problem. It is really in the context of the implementation.