Gentleman is wandering from the subject. Friend mentions the need for regulation to change in the light of new technology. He is an expert on e-commerce. It will be necessary to review a range of trade and financial regulations. Hence the need for new clause 1 to keep regulations under constant review.
Friend makes a salient point.
There are many examples of the problem, but I shall give just one. Telephony companies know that simple narrow band technology enables people to make telephone calls all around the world using internet systems for the price of a local call. They do not need broad band technology to do that. New clause 1 would enable us to review the regulations that established Oftel when British Telecom was privatised and the telephony companies were freed up. However, as my hon.