Overseas experience shows that Next Generation Networks (NGN) will become an even bigger issue than Local Loop Unbundling (LLU). The current legislative round provides a strong basis to deal with NGN regulatory issues now, rather than later when the problem is worse. This can readily be done by adopting the principles in the BT undertakings, which are the basis put forward by Telecom for their proposed solution. But the reality of what they propose is radically different from the model they say they are adopting.