This bill is a step forward in that it does reduce the regulatory burden around some types of foreign investment. Some of these changes are small and specific but very important to the people who interact with this regime. I want to acknowledge in this speech the select committee process and those who submitted to us about their experience of interacting with this piece of legislation and the practical effects it has. Our select committee heard from a broad range of submitters; everyone from Federated Farmers through to Woolworths, through to people involved in property investment—all sorts of people talking about what the regime has meant for them in practice. There were stories of significant delays, months of process, and huge legal fees, and so any steps that we can take that reduce that regulatory burden so that money actually goes into the right things are steps forward. 