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I think that I have already circulated to committee members a copy of the letter from our solicitors, which is dated, I think, 5 May. As I understand it, the settlement was concluded on 13 May.
The minister has, as he said, started the process of reform, which I welcome. However, we may need to go further and I suggest that fresh legislation may be needed sooner rather than later.
That would require assumptions to be made about what would happen at the end of the franchise period. A franchise may last 15 years but the overhead wiring may have a life expectancy of 20 or 30 years, so what assumptions should be made after the 15 years?
As I said, we want to get a discussion going. Members and witnesses may wish to ask one another questions, to ask questions that everybody round the table may discuss or to make general contributions rather than ask questions.