Mr. Mark Griffin:

Absolutely. I should clarify that for all the commercial semi-State bodies under the aegis of our Department, there are processes in place whereby the intended capital expenditure, for example, whether it is by the ESB, Ervia or EirGrid, is approved by the Minister at the start of the financial year. There are certain delegated sanctions that allow the commercial semi-State bodies to progress with capital works programmes without being obliged to revert to the Department and those thresholds are set and agreed. Where there are significant transactions that are to be completed, there is a requirement for the commercial semi-State body to get the approval of the shareholding Department, as well as of the Minister for Public Expenditure and Reform. In recent years, we have had NewERA as the shareholder executive that provides significant support to Departments that have commercial semi-State bodies and which does a great deal of financial analysis of those bodies. Where the distinction arises is where the Department will get involved in what is a relatively small project, relative to the overall level of capital activity by a commercial semi-State body, the likes of which had been proposed by Bytel-Aurora.