Thank you very much. I'd like to begin by recognising and welcoming the fact that all parties have recognised how important this Bill is, and how important it is that we achieve the reclassification of RSLs. It is, indeed, a serious Bill that deserves serious consideration and serious scrutiny, as David Melding quite rightly pointed out.

I would say that we haven't heard the last, certainly, of tenants' rights and participation. It's something I've taken a personal keen interest in, and just last week I met with the chair of the regulatory board for Wales to discuss the role that they might play, and particularly the piece of work that they're doing in terms of a strong and close look at tenants' rights and tenants' participation as part of one of their thematic reviews. I know that they'll be keen to hear from Members in terms of their views and experiences there as well.

Whilst RSLs will be private entities, it doesn't mean that strong, effective regulation has gone away. It's quite the opposite. We've taken really strong steps to revise and strengthen the approach to regulation in anticipation of the ONS reclassification in collaboration with key stakeholders including tenants. We don't just want to have tenants at the heart of regulation—actually, they already are at the heart of regulation thanks to our new regulatory approach, which has been recently introduced. 

Some issues were raised regarding conversions from societies to companies. So, an RSL that is a registered society can only convert to a new company as opposed to a pre-existing company, and therefore any new company created for a conversion is deemed to be an RSL. That brings with it all of the safeguards that that affords in terms of its core purpose and business. That core purpose and business for RSLs, including those that are companies, as I said in my introductory remarks, mean that they must be not-for-profit, and their purposes must include the provision, construction, improvement or management of social housing. Diversification is monitored closely, as is the establishment of non-registered subsidiaries, and in fact progressing the core purpose of the business is central to performance standard 1 and subject to that ongoing regulatory oversight.

I would close my remarks by restating that my amendment sets out provisions placing a duty on RSLs to consult with tenants. It's a duty that applies where there is a fundamental change that affects tenants by way of a change of landlord in response to the concerns raised by Gareth Bennett, but it is not a duty to consult where an RSL is in jeopardy and needs to take those urgent steps to protect its tenants. Again, I reiterate that this doesn't mean RSLs can leave tenants not knowing what's happening if their landlord is facing difficult decisions. Effective communication in any event is a regulatory expectation and it will be subject to regulatory oversight.

Turning to the duty itself, the requirement on RSLs to provide a statement about the consultation they have undertaken, effectively forces them to consult, and if they do not consult, they will be unable to provide the Welsh Ministers with the statement required, which then in turn would put them at risk of an adverse regulatory judgment, with the potentially very serious consequences that brings. So, therefore, Llywydd, I ask Members to support amendment 1 and to reject amendments 1A, 3 and 4. Diolch.