Mr. Paul Maloney:

No, because I had been of the view that Ms Moylan had and that we were not submitting to the Department a business case for a valuation, as she has confirmed for the committee. I was of the view that we had simply been asking for approval of the loan of €127 million, as she has confirmed, and the application to the Minister to become a joint venture partner. In the code of conduct between the Minister and the authority issues such as the business case for site development and the commercial case for site development did not require ministerial approval.

I was under that impression and, of course, it has been confirmed to me since. I take exactly what the Deputy is saying and accountability for it. It should not have been in the original letter to the Department that we were going to pay €220 million for a site, but I have to reiterate I corrected it in time.