Mr. Paul Maloney:

Mr. McCarthy says it is a conflict of interest, but when Ms Moylan appeared before this committee, which is on public record, did she perceive as a conflict of interest the specific role of being on the board and being the person who was going to the Minister to get that sanction? I think Deputy Eoghan Murphy may have asked the question. She said that no, she did not see it as a conflict because her role was to increase the borrowing, not make a business case. Rather than delay the committee, I came here today to correct the statement in the Comptroller and Auditor General's report which says the Department was not formally informed of the new figure in advance of ministerial sanction. It was. My timing, 8 a.m. on 24 October, meant that official had every opportunity to return to the Department, which she did, and correct it. She honestly said she did not need to because, as Mr. McCarthy correctly said, the borrowing was no longer €100 million but only €50 million, so she did not feel we were exceeding our borrowing limits.