SpeechNAISI CHEN (Labour): Thank you Madam Speaker. In third readings we tend to give thanks to many people who have helped us work on this bill but can I just start my contribution by thanking the member who's just resumed his seat Chris Penk for that really comprehensive review of this bill. And may I add because we've got the Minister thank you to the Hon David Clark. This is a wonderful piece of bill that really modernises the Commerce Act to what we need it to do in this modern-day history. Right now in this day and in this context that we've given we're walking out of the economic effects of a post-pandemic era. We're looking at competition. Our Commerce Commission has just come out in the recent month with a market study on our competition in our supermarkets and our grocery sector. We've looked at fuel prices we're going to look at building supplies.Competition is in peril in our little country of New Zealand. Our economy is small so that's why we are very susceptible to anti-competitive behaviour. It's really important that we choose as a Parliament to uphold competition in our economy to the best of our abilities. I do want to quote our capable chair Jamie Strange in I think it must have been another bill that he contributed to saying that competition breeds innovation. I think that is exactly why we are doing all of this—is that we need to make sure that we also have an innovative economy to be driving us forward in the 21st century. So that's why I think it's incredibly important that this bill addresses section 36 and that we make sure that in this commerce Act that we actually are able to give our courts the full power of not only constructing a scenario of hypothetical analysis but also we're able to just look straight into the intention of these cartel behaviours and actually be able to give them the full suite of tools to prosecute for those who are harming competition in different markets.We've seen in Australia that they have also adopted similar frameworks in terms of how they judge and they rule in their competition law. I think it's really important that we look at the benefit that it has brought on including the effect that it's had on their concrete market from what I understand. So I think that's really important in New Zealand that while we're looking at things like the building supply industry we know competition law will lay the good foundation to ensure that we have a healthy market so that we can recover our economy from the pandemic as well. I'm also really pleased that we've been able to address the safe harbours in our intellectual property law as well to make sure as the chair has said that we are looking to make sure that that sector is innovative so that we can bring technology to actually push on innovation in our economy as well.Finally my thanks goes to the Economic Development Science and Innovation Committee. We've definitely had a very busy period with all of these laws coming in but I also thank especially a member Todd McClay for working really constructively with us as the National spokesperson on this issue. I'm glad to hear that the other party is supporting this bill and I think that we are really looking forward to seeing that this bill will breed better competition in our economy. So on that note I commend this bill to the House.