Member

Once again, I would like to reassure all noble Lords that we will continue to work closely with regulated entities in the design and implementation of the incident reporting framework in the coming months. This will include the reporting thresholds, which we intend to set out in secondary legislation, as well as the steps on streamlining the reporting process itself. There are already opportunities for reviewing and assessing the way in which the incident reporting framework is operating. One of these will be the annual report on the statement of strategic priorities, about which I have spoken already, and the other is the legislative review mechanism required under Clause 40. For that reason, I am confident that the intent of the amendment, which is right, will be achieved through this combined programme of work and that a further report will be unnecessary.