Hon DAVID PARKER (Associate Minister of Finance): Mr Chairman, if I might just assist the committee by putting this bill into the context of the other pieces of legislation that have recently been passed. There have been a number changes made to the overseas investment regime since 2017. The first was to ban overseas buyers of existing New Zealand homes, with some exceptions, including an exception relating to new builds that are going to be rented out. There was at the same time a revised letter of direction that was provided to the relevant ministry, by the then Minister responsible, that tightened up how the different competing regulatory criteria for investments in rural land would be dealt with.