36 C ONFIDENTIAL NO T F OR DIS TR IB UTIO N Co ncerns Rais ed by St akehol ders One tim e conversi on process MNDM is now propo sing a one time conversion pro ce ss for all cla im holders Min ist ry s prop osal has evol ved ba sed on lessons lea rne d from o ther jurisdic tions analysis of the ex isting claim fabric and numerou s s ce narios stakeholder fee dbac k and technic al conce rns princ iples for phase 3