According to the Commerce Commission, restrictive covenants are promises not to do something that are registered against land and impose restrictions on how that land can be developed or used. They bind any third parties who subsequently acquire or lease that land. Examples are that, first, on the sale of land by a grocer retailer to a third party and a consideration for that purchase, the vendor agrees to register a covenant against other land in the area that the vendor is retaining. Exclusive covenants are provisions contained in leases that restrict competitors from operating the same shopping centre. The Commerce Commission found that these generally have durations of 20 or more years, so, in effect, this has reduced local competition, which is what we have been advised. This bill will do something to actually make it easier for other competitors to come into the market and will, hopefully, address some of those competitive pressures that are needed to actually drive a better market. 