(1) The current reporting obligations are the obligations that the corporation or corporations would have under Part 7 - 2 or 7 - 3, or under regulations made for the purposes of Part 7 - 2 or 7 - 3, if the determination were not to be made.
(2) The proposed reporting obligations are the obligations that the corporation or corporations would have under Part 7 - 2 or 7 - 3, or under regulations made for the purposes of Part 7 - 2 or 7 - 3, if the determination were to be made.