I think that this bill—well-meaning—will do a job, but it needs some more belts and braces around it because it actually is so important to us in New Zealand to make sure that it works correctly. And I think the Minister actually could give us some more information around that, because, I think, surely the advice would be that the only auction really at risk would be this first auction. And, I think, as the member for ACT Simon Court spoke earlier about, those emitters who need some emissions certificates can buy up until some date in May from the reserve market to cover their emissions at a much lower price than the secondary market. And so why would it be an issue after that particular auction on 17 March? I think the second quarter auction will clean up everything if the auction did in fact fail, and I don't think that's a great risk anyway. But if it did fail, then we have a known quantity in the ETS—that's what the ETS is all about, and we have a known quantity coming to the market this year. So there may be a risk that an auction would fail; it's for 4.75 million units. That, I think, is not a massive amount, and if it fails, that will create some urgency, I believe, in the market.