Ms Mary Moylan:

Yes. A number of issues arise. The Minister's approval was being sought for the increase in the borrowing limit and also for entering into the joint venture. The actual price to be paid for the land and the related commercial decision were matters for the authority. The Minister had no function in that regard.

With regard to the values discussed at the meeting on 20 October, they were discussed in the context of an explanation from the chief executive of the basis for the valuations. They were also discussed in the context of the authority taking a 26% share in the company and of what the total investment of the authority would be.