Right now, the legislation has the broad strokes right. The real issue now becomes governance issues that need to be addressed. Should these governance issues be enshrined in the legislation—and there, it's pretty hard-coded in, so that will be hard to change in the future—or do you try to add these other governance issues through regulations or other institutional design issues with the bank?
Just to give you one example from Infrastructure Australia, its founding legislation specifies that:
the Minister must not give directions about the content of any audit, list, evaluation, plan or advice
That kind of very definitive independence, the bank's independence is not in place right now with this proposal.
The question for the committee becomes whether you recommend changes to the legislation, which is going to slow things down, or whether you want to be able to get this together quickly, but at the risk of a lack of independence or perceived independence.