Llywydd, it is in the public interest that this Bill receives support today. Given the decision of the ONS on the classification of RSLs, we must act. We've always accepted the principle of this Bill on this side of the Assembly, however we have sought to scrutinise it as a piece of significant, if necessary, deregulation. Consequently, it requires rigorous risk management. Our amendments at Stage 3 sought to strengthen the Bill in this regard and I regret that they did not receive the support of the Assembly. While I welcome the moves made by the Welsh Government, under our scrutiny, to improve tenant participation, they still fall far short of our proposals.

It is time to move on and accept that a 'good enough' Bill should be accepted. The Bill, as now presented, will secure the needed status of independence to reverse the ONS's previous classification decision. With this, the way is once more open for RSLs to continue their important work of building more social homes. By clarifying the status of RSLs, investors will be confident that governance arrangements do not permit public interference. On this basis, I urge Members to vote for the motion before the Assembly today.