Translation of "Fin de non-recevoir fondée sur la conduite " (French → English) :

Even though the sponsor is paid a market-based fee for its services that is commensurate with the services provided, the sponsor has exposure to variability of returns from the activities of the conduit because of its rights to any residual returns of the conduit and the provision of credit enhancement and liquidity facilities (ie the conduit is exposed to liquidity risk by using short-term debt instruments to fund medium-term assets).

In order to receive appropriate information for monitoring systemic risks and to gain a complete picture of the use of leverage by the AIFM, information about the exposure of an AIF should be provided to competent authorities and investors both on a gross and on a commitment method basis and all AIFMs should therefore calculate exposure using both the gross and the commitment method.

To maximise the saving benefits of these innovations, final customers should be able to visualise indicators of cost and consumption and have regular individual billing based on actual consumption.

This option, for instance a recommendation linked with existing Community legislation relevant in this field, might have the support of those who are not convinced of the need for a legally binding instrument.

Mrs. Pauline Picard (Drummond, BQ): Mr. Speaker, how can the Deputy Prime Minister expect to be taken seriously, considering that the establishment of the human resources investment fund, through which Ottawa will interfere even more in the manpower training sector, amounts to a blatant rejection of the position held by the No committee?

Whereas the possibility of choosing 1990 or 1991 as the reference year will cause transitional problems which need to be regulated; whereas, while ensuring that the total number of existing rights is not increased above the number of acquired or potential rights corresponding to the reference year chosen, provision should be made for an initial allocation of rights to farmers in well-defined situations; whereas, in order to take account of the exceptional circumstances which prevented producers form applying for a premium for the year or years following the reference year, while having obtained a premium for the reference year, provision should be made for such producers ...[+++] to receive rights from the national reserve; whereas, moreover, in conformity with the principle of legitimate expectations, compensation in the form of the allocation of additional rights should be provided for in the case of producers whose individual ceiling does not reach its normal level because of their participation in a Community extensification programme;