He said in his first reading, "It will place the Reserve Bank on a more independent basis to improve the credibility, consistency, and effectiveness of monetary policy." He went on to say that it "places the bank on a more independent, but also more accountable, legislative basis" than it was at that time. He said, "The Reserve Bank is required to have regard to the efficiency and soundness of the financial system"—note the term "efficiency" was initially a goal of the legislation—"and to advise and consult the Government and others … Therefore, the bill provides that the bank can be diverted". Oh, and then it went on to talk about clause 11 of that bill, which is about changes to and the degree to which the Government could direct the Reserve Bank in implementing other things apart from monetary policy.