Dr. Gerhardt Gallagher:

In regard to the constraints on an investor and what he would have to consider before making an investment, when we started to add up the constraints, they are the standards of behaviour which would be the minimum for such an investor to adhere to.

We think that forestry is not the same as any other manufacturing industry, it is very highly regulated. Those involved in the forestry industry must be governed by many Acts of Parliament and EC directives. That would also apply to the harvesting rights. For example, an investor would have to consider the type of operations it would carry out near rivers and streams. Some of that can be quite restrictive. Forestry is unique in that it is the only industry that contributes to the storing of carbon. It has an extra responsibility, especially in harvesting operations. If one fells 7,000 cu. m without planning permission that can create a major hole in carbon storage. These are just a few points.