ANDREW BAYLY (National—Port Waikato): I find that answer absolutely incredible. I think the Minister's asserting that the cause of this issue was the legislation, not the responsible code of lending dated February 2021. So the first thing is: can the Minister confirm whether in fact he as the Minister was the one that approved these regulations, issued by the Ministry of Business, Innovation and Employment (MBIE), called Responsible Lending Code: Revised February 2021? I put it to the Minister—and I've heard him talk about this rather cutely previously—that the issue is not the legislation. The legislation provided for a differential approach to be taken either in respect of the lender or the borrower. The issue is not the legislation; it's the regulation. And this is the document that has exploded by 40 pages, and I'd love to know, and I ask again, whether the Minister will confirm whether or not he as the Minister of Commerce actually approved these regulations.