Ms Mary Moylan:

Yes. They declared that they were non-executive directors of the banks. They said that they were not involved in any credit decisions relating to particular funding. That is stated at the end of paragraph 2.1. It is stated in paragraph 2.2: "in the course of full discussion on this and recognising the provisions of the code of conduct, the board concluded that no material conflict of interest existed in respect of the participation by the board members in the discussion and the decision on the proposed acquisition". Subsequently, the board asked that the authority's legal advisers examine the manner in which the board had looked at and dealt with these declarations of interest in light of the code of practice, and the legal advice that came back was that it had been handled correctly and in accordance with the code of practice.