Senator XENOPHON (South Australia) (12:34): I want to ask an opening question following on from Senator Back's contribution. I think it reflects the additional comments of the coalition senators. It is a genuine question based on the coalition's concerns in saying that this is a one-size-fits-all approach. I think that Senator Back said that for a university, one of the Group of Eight, or a state-run TAFE, the risks involved of anything going wrong with that institution are practically non-existent or negligible compared with, say, a private institution of the sort that have collapsed. My understanding is that the issue of risk is factored into the legislation in considering the regulatory burden. I just want that clarified, because it seemed to be the main criticism, as I understood it, from the coalition. I am just trying to establish whether issues of risk are greater. There was a gradation of issues of risk in determining the regulatory compliance.