Ciarán Lynch (Cork South Central, Labour) | Oireachtas source

Okay, maybe jump forward a couple of years so, and I want to refer to the ... because I'm still looking at the adequacy of board oversight in regard to internal controls and to ensuring that risk was properly identified, managed and monitored which is what we're talking about now. And I'll go to core document AIB B17 ... B1 ... page 79 and 80. And this relates to EC, under EC treaty rules the bank was obliged to submit a restructuring plan to the EU Commission and this was finalised in April 2010. It was further updated in 2011 and further revised again in 2012. Now the question I'm putting to you here, Mr. Sheehy, in it's revised 2012 EU restructuring plan, paragraph 3.9, AIB acknowledges that its decision to expand into property was misguided and that its risk management and internal governance systems were not as effective as they should have been in controlling this risk. Now could you please comment upon this and maybe come to them in regard to your earlier comments to me as well.