Pearse Doherty (Donegal South West, Sinn Fein) | Oireachtas source

One final question and it's a short one. It's in relation to and again we have a document here, the same booklet AIB B2, Vol.1, page 25. It's another advice to the board re approval of exception of group large exposure policy and this is for €11 million to increase the individual's exposure to the bank to €322 million. This is, I believe, to buy 1.75 acres in some place where he has already bought 6.5 acres at the cost of €70 million. The question I ask is the CEO or the group chief executive approved this on 22 December, just a couple of days before Christmas, because of the timescale that was required and it went to the board then for approval. Now how does that work if the chief executive approves €11 million to increase the exposure of AIB to €322 million in December. What power does the board have at that point and is that a common factor that the CEO ... did the CEO have that power, is that the power that the group chief executive had at the time?