Mr. Edmund Honohan:

This is a policy decision in respect of the business model of the co-op. I left the definition section in the draft Bill empty, with cut-off points, dates and so forth to be inserted. That is a matter for the other gentlemen present to work out. The invitation to treat, as it were, the call option would inevitably have to be weighed up in each individual case. It is not a question of the co-op buying a loan as soon as a bank indicates its intention to dump it into the marketplace. There will be properties which will be not worth purchasing.