Bishop ChrisCHRIS BISHOP (National—Hutt South): Oh thank you very much Madam Deputy Speaker. Look can I just say in response to Miss Swarbrick's speech that she may not have thought she was planning on speaking on the bill but it was a more learned contribution than Greg O'Connor's who was actually on the Justice Committee which is slightly embarrassing for Mr O'Connor but well done Miss Swarbrick.This bill has had a long and complicated legislative history and it's a testament really to the fine work of Andrew Bayly my colleague that we are at a second reading and it looks like it will receive unanimous approval of the House. This bill came into being with the lamented Paul Foster-Bell who left the Parliament at the 2017 election. He introduced it in May 2017 it had its first reading and it was sent off to what was then the Justice and Electoral Committee. I think we opened for submissions and I think that they came in but we didn't actually hear any. That was left to the newly reincarnated Justice Committee of the 52nd Parliament and that's where things got interesting. Andrew Bayly the member in charge of the bill is nodding his head. I won't discuss exactly what went on at the committee but it was an interesting process. We heard the submissions and they were very learned submissions. We heard from noted arbitrators like Jeremy Johnson down in Christchurch from Wynn Williams and Co. We heard from David Williams QC—we heard from a variety of different QCs actually. We heard from the Arbitrators' and Mediators' Institute of New Zealand—AMANZ—and we carried on.We did have a lot of difficulty in getting to grips with the recommendations made by—I suppose you'd say we had some difficulty reconciling the views of the submitters who were very learned and very expert and very knowledgeable in their field with the views of the officials. Of course we were also—and still are in some ways actually—still considering the Trusts Bill and there is a degree of overlap between the Trusts Bill—the massive rewrite of our trust law—and this bill the Arbitration Amendment Bill. So we had to deal with the overlap and the potential overlaps between the two bills which we were considering at the same time. We issued an interim report; we sort of threw our hands up with a cry for help.We issued an interim report and we put a departmental report out and then we hired Mr Paul Heath QC. I think that was a very smart idea because Mr Heath QC came in like the white knight and we were able to work with Paul Heath and between us on the committee the members—some of whom are you know quite au fait with trust law some of whom are coming at it for the first time and some of whom like me have an entire honours degree in law but absolutely loathe the subject of trusts and arbitration. But anyway between us on the committee and Paul Heath QC and the submitters and the officials from the Ministry of Justice we have managed to fashion I think a good piece of legislation.It's highly complex. Miss Swarbrick is right that we're going to have quite an interesting debate I think at the committee of the whole House stage but what we have sought to do as a committee is not adopt every single thing that the submitters wanted. We have amended the bill reasonably substantially we have made some fine-tuning amendments as well and we have landed in a space where it looks like it is going to receive majority support. That is really good because as the Hon Dr Nick Smith said in his contribution certainty in the area of commercial law when it comes to this is really important. I actually think it's one of those areas where it is good to have as much cross-party support as possible in the House because that consensus or at least unanimity provides some ballast to the idea that the law is set in stone and it means that those out there who are making commercial decisions based on what the law is know that if there's a change of Government you know the National Party's not going to come in and overturn what Parliament's just passed. You need to be able to make decisions based on some sense of certainty. Hopefully as we move through the remaining parliamentary stages we will get this.Just in my final 30 seconds I want to just tautoko what Nick Smith said about New Zealand as a potential home of commercial arbitration. We have huge potential for it and we did some work on that in Government—the previous National Government. There is huge potential. In the world today a society based on the rule of law the certainty of the law with high-quality legal procedures and legal tribunals is something to be prized and valued and this bill further entrenches it. Thank you.