I thank the hon. Gentleman for that anxiety.
Hon. Members have mentioned TfL’s failure to engage with the objectors, but having gone through the Opposed Private Bill Committee and listened to the various proposals, my understanding is that they have been reflected. TfL has sought to meet the objectors and hon. Members to ascertain exactly the details of their objections, and it will have heard what has been said tonight. Clearly, we will not reach agreement on all the amendments, but TfL will no doubt reflect on them.
My concern on reading new clause 1 is that all such properties would have to be banded by value. In my judgment, that would lead to more speculation, rather than less. If TfL is disposing of assets, it should seek to maximise the value that it gets, but banding by value would play into the hands of property speculators. At the moment, the assets are all listed on a searchable website that can be seen by any member of the public, so we know what TfL owns. I therefore reject new clause 1.
New clause 2 would set in train a whole series of consultations and place heavy restrictions on the disposal of land. In my view and in that of the promoters, that would place an unnecessary encumbrance on TfL. There is already a statutory regime, set out in section 163 of the Greater London Authority Act 1999. TfL cannot avoid that; nor does it wish to do so.