ANDREW BAYLY (National—Port Waikato): Thank you, Mr Chair. We're in the exciting stage of being able to ask Minister Parker some questions. I think the first thing is, when the original test was changed by the Rt Hon Winston Peters, there was already at that stage a great deal of opposition concerning those provisions, because many members—and I was one of them—expressed concern that it would lead to rapid escalation. At the time, the element of New Zealand production forest owned by overseas entities was estimated at 72 percent. I do note that the—I think it's the Overseas Investment Office (OIO) recalculated the figure and slightly downgraded it. But, whatever the case, it was by far—even at the point that the Rt Hon Winston Peters, supported of course by the Labour Government, chose to increase it, there was substantial foreign ownership.