Mr. Reuben East:

I appreciate that the Senator is not necessarily referring to letterbox companies and we have dealt with that part. One would need to look at the exact scenario to make a determination. The tests that I have outlined are quite clearly set out in CETA to guide tribunals in that. However, they are designed with the intent of barring those trying to access this agreement through a back door, as the Senator referred to it. The agreement is designed to assist Canadian and EU companies, in this case Irish companies, and not third country companies.

If there is a bona fide a Canadian company with substantial operations, that investor or that enterprise has a right of action. However, a US shareholder, as I think the Senator was describing, would itself not have that ability. It would need to have access through another agreement. It is really the Canadian company that can bring an action under that scenario. We are trying to protect such a Canadian company, or an Irish company the other way around, not a US shareholder per se.