Professor Patrick Honohan:

I have here figures on withdrawn by applicant and rejected/insufficient information. I have some numbers on rejected/insufficient information as opposed to rejected outright. These people have gone away and are not directors. They started the process and they have not got through. This is not a process that has no teeth. You can see that from the fact that their applications have been rejected on the basis of insufficient information. They could have brought more information forward but did not do so.