Mr. Terence O'Rourke:

I was a member of the auditing review group which recommended directors' compliance statements, so I was aware of the issue and I know the institute would have had dialogue with the Financial Regulator about the format of directors' compliance statement, so that issue was there. But the institute ... profession ... worked out ... said there are things you can do to make the compliance statement work better and the industry ... well the industry of the industry took for themselves but they also made representations to the regulator and to the Department and, I mean, they're now there, they're now in the current legislation. At the time, I think there could have been a possibility of getting ... instead of compliance statements that would have worked but that process did not conclude, it just ran into the sand, as far as I remember.