Mr. John Dempsey:

With the transfer of liabilities from local authorities to Irish Water, there is a process to be undergone where those liabilities are quantified. That will take place. As the local authorities finalise their accounts following on the 2012 year end, I suppose numbers will be put on those liabilities and we will enter into a process in the first quarter of this year where we will agree the amounts involved and come to a net arrangement with each local authority. It is hard to go into any more detail on it than that at present because there is still not sufficient clarity around all the liabilities and the associated values that attach to them, but it will be a net liability position. There are some assets that transfer across but it is a net liability position that Irish Water will be assuming.