Mr. John Moran:

It relates to the structure of compensation but does not open the floodgates in respect of bonuses in the covered banks until such time as the Government decides to open the floodgates, as the Deputy puts it, and permit bonuses to be paid. There are currently restrictions which operate in parallel to these rules which apply across the rest of Europe and in effect are designed to act as a limitation on the structure of payroll where bonuses are paid. Therefore, it has no application at the moment where it is not permitted.