Ms Elizabeth Canavan:

When we sent out the expressions of interest for board membership, we provided some terms of reference on what was involved. We can send those to the committee. The terms of reference are essentially the terms of reference of the FSA board as set out in statute. The role in respect of the new agency is limited until such time as that agency is established. The Minister hopes that on an administrative level, Ms Gibbons and whoever else comes on to the board will begin talking about the plans for the transition to the new agency. The whole idea is to have that kind of continuity. From a statutory point of view, the FSA terms of reference will be the terms of reference in the new agency.