Mr. Pat Houlihan:

Yes because there is the requisite level of independence. The IAASA has not been trammelled in any sense. If money can be obtained from external sources in a climate like this, we should continue to avail of it and be happy that it is available from these sources. It is particularly important at a time when it is quite likely that the responsibilities, functions and duties being thrust on the IAASA will increase, as is more than likely arising from the current proposals. In that situation I would be reluctant to mention the word "funding" to the bodies in case they get the bright idea that they should attempt to renegotiate the deal and pay less. The Deputy's point is well founded in principle, but in a practical sense there is no issue with the funding and how it is structured. This is not the best of times to be seeking to change a system that is working when there is no money around to fund it.