My Lords, I am grateful for the comments made by the noble Lord, Lord Stevenson, to whom I pay tribute. I also pay particular tribute to the noble Lord, Lord Young of Norwood Green, for highlighting the issue at an earlier stage of the Bill.
To summarise, these amendments ensure that appropriate reciprocity arrangements remain in place. They ensure that, to be considered a “qualifying person”, businesses must be formed under the law of a part of the UK or other qualifying country. They also ensure that only qualifying persons can benefit from being the first to market. Finally, they do not change the position in relation to individuals, who are not required to have citizenship in a qualifying country as long as they are habitually resident there.