7-911361
SUBJECT: 24(1) re 107 (2.01) Election
We are writing in reply to your memorandum of May 17, 1991, concerning the above noted matter. We reviewed the analysis contained in the section of the 24(1) letter entitled "Background" - Subsection 107(2.01) Election - Draft Legislation" and find it to be an accurate summation of the proposed legislation.
If the Department plans to address the problem they have identified, it must be done on an administrative basis. We, therefore, have no further comments to make.
for DirectorFinancial Industries Division