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My key concluding comment is this. To have effective regulation, as I found out when we originally introduced the water regulator back in the early 1990s—I was Minister as part of the team that did so—you need clarity, consistency and transparency. All three are missing, sadly, from this statutory guidance. I hope the Government will take away that point and focus very carefully on changing it in the interests of investors in football, while still achieving all the objectives they have set out in order to have an effective regulator. With those concluding comments, I beg to move.