At its meeting on June 14, 2016, the Private Enterprise Advisory Committee (PEAC) discussed an analysis of the viability of a classification exception on the basis of retention of control over the enterprise.  Specifically, the Committee discussed the challenges with applying the concept of control as a condition to the various characteristics of tax planning arrangements. The Committee also provided further input into an analysis of the following issues for consideration: (i) the definition of tax planning arrangements; (ii) conditions that should also be met in order for the classification exception to be permitted, in addition to the retention of control; (iii) reclassification considerations; and (iv) presentation and disclosure.