Mr. Tom Boland:

Two points arise in that context. We are entitled to and obliged to rely upon the assurance from the colleges, in terms of both the autonomy of the colleges and our own resources.

I will just go back to my point: we were aware of the financial position of the college at all times through the availability to us, on an annual basis, of unaudited accounts and through detailed budget discussions with it. It is not as if this was a renegade college or something.