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Yes. Thanks.

I do not know whether any such cases have come up, so I am not sure whether the fine is a deterrent.

I wish to ask about those who can allege a breach of a land management plan. Malcolm, you are saying that there is

“a closed list of who can clype on the owner of a large land holding if there is thought to be a breach”.

Do you think that the current balance in the bill is correct? Are there pros and cons in having a bigger list or a smaller list?

Are uncertainties about the pace and scale of investment holding back a decision on the BAE contract, or are you certain that you will have what you need in place at the right time to fulfil that subcontract?

Was there anything that you were surprised not to see in the bill, given that, since the previous land reform act, new issues have arisen, such as natural capital investments?

I want to ask about the role of subcontracting—in particular, the type 26 frigate work for BAE Systems, and future subcontracting work.

Where are things at?

Do you have a likely end point for that?

I want to go back to the rational polluter argument. You mentioned the register of controlling interests, and I think that there is a similar fine of about £5,000 in this case. At the time that we discussed that in Parliament, there was a view that £5,000 is not a lot of money. However, there is a reputational concern when someone is hit with such a fine, which might have other implications. What are your thoughts? I am not aware of whether the trigger under the register of controlling interests regulations has actually been applied.

It is obviously a challenging context in which to operate.