“This consultation paper sets out the key elements of a proposed regime for demutualization. The overarching policy objective in structuring the demutualization regime is to ensure that policyholders are provided fair and equitable treatment. Demutualization will give rise to fundamental changes in the companies they own and in their rights as owners. At the same time, companies must remain competitive and efficient after demutualization in order to sustain safety and soundness in the Canadian financial sector.” Preface p. 5