Mr. John McCarthy:

With the permission of the Chairman, I might ask my colleague, Ms Lisa Clifford, to respond in regard to the detail of the process, but before she does I want to say that an issue that can arise in regard to NAMA properties is that they are associated with loans within the NAMA remit but they may have receivership going on as well. Of the overall number of units that would initially have been identified by NAMA as possibly being suitable for social housing, about a fifth of those were ultimately sold or let by receivers in private transactions. That can arise as a problem in some cases, but perhaps Ms Lisa Clifford will outline the process in terms of NAMA engagement.