Seymour David; Bindra Mahesh; Mallard TrevorDAVID SEYMOUR (Leader—ACT): I would just like to commend the member Ruth Dyson on her commendation but I think for both our interests reputations and future career prospects we should try not to make a habit of it.I would like to speak to a Supplementary Order Paper (SOP) that I have on the Table in my name. It is Supplementary Order Paper 207 and it is really quite a simple thing. At the heart of it it amends the Companies Act so that companies are able to send out their annual reports in an electronic format rather than a paper format. It is a very simple thing.I do actually want to just pay a tribute to Matt Doocey who has been much maligned for introducing this member's bill because he did use the members' ballot for the purpose it was designed. He is an electorate MP. He had feedback from business people in his electorate who said: We have to send out these reports in paper format. The cost is killing us. The environmental impacts are highly negative when we know that 90 percent of the business—when we do our banking when we take our orders when we do our commerce—we do electronically. It is absolutely archaic that the Companies Act requires us to send out a paper format report every year and upon request." So Matt Doocey was doing the right thing.But I think—as others have commented—it costs $43000 an hour to operate this House on an average cost basis and it was a very large use of this House's time and therefore taxpayers' money to make such a minor amendment through the whole member's bill process. Thankfully one of the things I can say as the Parliamentary Under-Secretary to the Minister for Regulatory Reform is that I am very pleased that this Government does from time to time have a statutes repeal bill a statutes amendment bill and a Regulatory Systems Bill—bills that are designed to clean up the many aspects of the 40 books of statutes that this Parliament has passed in the last 170 years or so to reform those many aspects where they are an impediment to people going about their lives in an efficient way.This SOP is not a complex one. If you go through the various sections it amends the Companies Act. Wherever there is a requirement for a company to send out a paper statement it is replaced with the option of sending out an electronic statement. It requires a company in the first instance to notify a shareholder or somebody who is entitled to receive such a document that they have a choice and then that person must make an election either to continue receiving paper or to receive their documents in electronic format. If the person fails to make that election then the company no longer has an obligation to furnish them with a paper statement. If they elect to have electronic statements then they will receive this correspondence in an electronic format for the rest of their association with that company. That is a very small thing this Government can do taking up a small amount of the House's time in order to make it easier for people to go about their business build their companies and actually create wealth and opportunity for New Zealanders up and down this country.I think Mr Chair you are probably detecting that I have actually spoken as much as one can speak on this. I am very pleased to see the House considering this SOP and I hope that all members will consider supporting it. It should be non-controversial. Thank you.Part 1 agreed to.The question was put that the amendment set out on Supplementary Order Paper 191 in the name of Kris Faafoi to insert new Part 1A be agreed to.Amendment not agreed to.Parts 2 to 6 agreed to.The question was put that the amendment set out on Supplementary Order Paper 207 in the name of David Seymour to insert new Part 6A be agreed to.Amendment agreed to.Parts 7 to 28 and schedules 1 and 2 agreed to.Clause 1 agreed to.The question was put that the amendment set out on Supplementary Order Paper 227 in the name of the Hon Simon Bridges to clause 2 be agreed to.Amendment agreed to.Clause 2 as amended agreed to.MAHESH BINDRA (NZ First): I raise a point of order Mr Chairperson. I seek your leave to withdraw my objection to the earlier amendment please.The CHAIRPERSON (Hon Trevor Mallard): The question on new Part 1A—your objection to that?Mahesh Bindra: Yes.The CHAIRPERSON (Hon Trevor Mallard): OK. I will seek the leave of the Committee to revert before I report to new Part 1A for the purpose of putting that question. Is there any objection to that? There appears to be none.The question was put that the amendment set out on Supplementary Order Paper 191 in the name of Kris Faafoi to insert new Part 1A be agreed to.Amendment agreed to.House resumed.Bill reported with amendment.Report adopted.The House adjourned at 11.43 a.m. (Thursday)"