Bayly Andrew; Clark DavidANDREW BAYLY (National—Port Waikato): Mr Chair I'm just waiting to—CHAIRPERSON (Adrian Rurawhe): Andrew Bayly.ANDREW BAYLY: OK. I was just hoping the Minister was going to take the opportunity but maybe we'll move on to a new topic. I just want to talk about the change around the assurance practitioner licensing arrangement. This relates to clause 7 of course in Part 1. There's been quite a change to this as I seem to read here and it's around the question of who is a qualified assurance practitioner to be able to do what's called CRDs which are climate-related disclosures. I suppose there's been quite a change in the bill moving away from the concept of having approved climate assurance practitioners to one that really revolves around more of a process—that reports are tabled and lodged within I think 60 working days from what I could see here.So my issue is first of all—maybe the Minister can just help us—who can be a qualified assurance practitioner now. I just read the commentary and it talked about accounting firms and whether they were actually precluded from being an assurance practitioner. So one is I'd quite like to understand who can't be one and secondly who might be one and what is the process for them to do it other than what may be suggested? I don't know if my assumptions are right about whether you just put yourself out as someone suitably qualified and the company makes sure it files your report in 60 days but I'd just like a bit of clarity around that assurance practitioner arrangement.Hon Dr DAVID CLARK (Minister of Commerce and Consumer Affairs): There are already greenhouse-gas assurance practitioners but it won't be till the third anniversary before any standard around that needs to be lined up. We're expecting new people to take this on as I outlined in my introductory comments. I do want to come back to a couple of other questions that have been raised. The member Stuart Smith raised a question around what standards would be applied to the public reporting entities—to those listed on public markets; prior to that what were public entities. Again as I mentioned in my introductory material the standards will be based on the recommendations of the task force of climate-related financial disclosures and that material of course was confirmed in 2017. So this is not a new area. There's not going to be great surprises in here and at the same time the External Reporting Board of course is obliged to give those who it's issuing the standard to a chance to be comfortable with the standard to go through due process and raise any concerns.In respect of the previous question of the member opposite the new section 461OA(1) set out in clause 7 is amended so that the size of a listed issuer of quoted debt securities is measured by the face value of their quoted debt securities at any time during the last two accounting periods instead of the value of their net assets as at the balance date of those two accounting periods. A listed issuer of both quoted debt securities and quoted equity securities will be a large listed issuer if they are large in terms of the value of their equity securities or in terms of the face value of their debt securities or both. But you cannot combine equity and debt securities for that total and the amount that must be exceeded is $60 million. The member will appreciate that many of these matters are technical and I want to be absolutely spot on when I report back to the House. Unfortunately many of our officials who have worked away on this are out in a back room because we have some COVID restrictions on how we operate in the House today. So if members are patient if they do have technical questions I will come back to them because I regard them as important and I do want to make sure that we are providing that technical information. Most of the rest of the argument obviously that raised by Mr McClay is more of a rhetorical nature. Happy to respond to those arguments one by one but obviously where's there's repetition we'll just let the argument and debate continue.