Andersen GinnyHon GINNY ANDERSEN (Minister for Small Business): Thank you Madam Chair. So in terms of compliance the bill's penalties in Part 3 are really consistent with those used in other regulatory regimes and were vetted by the Ministry of Justice's penalties vetting team in fact for that very purpose. The infringement penalties are not large when taken into consideration that they would apply to some of New Zealand's largest companies. And I have had several people ask me what the compliance approach will be. I can't speak in terms of hypothetical situations but I can say that what the Ministry of Business Innovation and Employment has advised me is that the primary focus in this area will always be on communication and also on education and there won't be a compliance holiday as such. But equally we can expect the registrar to show a level of good faith and also common sense to see how these compliance tools would be used. In relation to a pecuniary penalty I think that it's really important to note that it only follows a compliance notice. So it's the end of the line in terms of notifications and that level is obviously up to the court to do that.The next point I'll come to is I do note this is actually in the title and commencement clauses but I will touch on it anyway because the question was raised in relation to the transitional period being extended from six to 10 months. So it was clear that the select committee wanted a six-month transitional period but it was looking unlikely that the bill's regulations would be gazetted immediately after the bill passes. Because it's not possible to guarantee that we believed it was the most prudent thing to do to extend that transitional period. And by doing that it will ensure that the regulations are gazetted up to four months after the bill passes. But it also gives effect to the select committee's intent that there would be that six-month implementation period. And so we're not compromising that by the fact that the regulations have taken a slightly longer time. So that point around the six to 10 months was raised in conjunction with another point and I don't quite see how they're related but I will speak to them anyway. So it was the point of 14 calendar days and 10 working days which is included in the Supplementary Order Paper. So what that does is it just standardises. So 14 calendar days are the same as 10 working days. By making them all the same it removes confusion by having one term for both. And the final point I'll make was in relation to sort of compliance and extra work and that sort of being I guess non-productive and causing extra red tape. What I would say is that the more we move to an e-invoicing system in New Zealand the more we get not only big businesses but small businesses using cloud services using digitisation. We know that that in fact is a significant driver of increasing productivity in our economy. We know that the more that small businesses use those platforms the more that they're able to use those ways of digitising their finances. That in fact improves our productivity. And interestingly enough it also frees them up to have a bit of better work life balance so that they know things are ticking over regularly. That's definitely the reports we see back from businesses like MYOB from Xero that we're wanting to drive a system where we can do all of these things in a digital platform format. So I think that this bill incentivises businesses to be using this. I think also the other really important incentive that I haven't mentioned—and while I touch on a few things more than once I haven't mentioned this—is that it will incentivise those big businesses to be proactive in paying. And that's what we're looking for. We're wanting to drive that change so that if there is a bill that needs to be paid it's more likely to be done if it's made public knowing that that particular company is a good payer and they've got a good reputation and they can be proud of that reputation and more people will want to do business with them if they have that reputation.