Nash StuartSTUART NASH (Labour—Napier): I just want to talk about the commencement date on this and just ask the Minister in the chair Michael Woodhouse some questions. The Minister when he stood up a couple of calls ago said this is not quite an omnibus bill; it is little more than that. I think it is significantly more than that. It really does affect unit title holders—apartment owners. That as we know is becoming the predominant form of housing because they are a little bit cheaper than buying your grassy knoll in Remuera. But I am wondering—Hon Member: Grassy knoll?STUART NASH: Ha ha! This Act comes into force immediately after the expiry of the 2-month period that starts on the date of Royal assent. This is I am assuming going to get Royal assent before the election. This is going to get pushed through. It is this hard-working Minister who has taken on this portfolio and wants to see some action after doing nothing in tax. But what I do wonder is whether you considered Minister just pushing this out a little bit. The reason I say that is we all know that there are a number of apartments being built all around the country—and not just in the Christchurch rebuild but all around Auckland and everywhere—because the returns are high the demand is substantial and the prices are relatively low. So I wonder whether the Minister thought about delaying this for a couple of years because people will have already made decisions based on the current law.I know that there has been consultation on this and I know that Phil Twyford has done a hell of a lot of work around this area of housing and construction but my concern about this sort of bill is that there will be unintended consequences and I wonder what the unintended consequences will be for people who have put down their deposits and looked at their unit titles etc. etc. and found: Oh goodness me! Hold a sec—the real estate agent didn't tell me that this changes when a new law comes into force." In fact I am assuming the real estate agents would have had to inform them because it would have been illegal not to. But was there any thought of any unintended consequences or any thought of delaying this by 2 years with the ability to signal this was coming on so that anyone buying into a unit title now would have time to digest what was happening and anyone who was looking to buy into a unit title could actually assess and understand the new law before they paid the deposit over or before they actually occupied it? There are a whole lot of rules about unit titles there are a whole lot of rules about bodies corporate and there are a whole lot of rules about a whole lot of different things in here that will affect I think the predominant form of new housing going forward.So that is all I have really got to say. It is not a big one; it is just a question. But this is very definitely more than an omnibus bill and to pass it off as such I think does a little bit of a disservice to people in the building and housing sector. It also does a bit of a disservice to those who are interested in the sector because just to say "Don't worry about this there's nothing to see here it's only a small bill. You don't have to worry it's not going to change the way you do things terribly much." well I do not think that is right. I think we should actually treat the people who are buying into these schemes who are developing these schemes and who are part of them with a little bit more respect than just saying "Don't worry nothing to see here move on—it's an omnibus bill." because it is substantially more than that.But as mentioned just to reiterate the one question: did the Minister actually think of doing some sort of retrospectivity—which we have seen a lot recently in tax legislation—or of delaying it by a year or two which again we see in things like tax legislation? Thank you very much."