Perpetuities and Accumulations Bill [HL]

I remind the Grand Committee that we are today taking part in the first Second Reading Committee debate in this Room in the long history of the House. The reforms that we propose in the Bill are based on consultation with experts—of course their comments have been taken into account. Some may have wished for more radical reform, but that was not the consensus. I hope that this modest but important Bill will be the first of many to use the new procedure. I beg to move.