Ms Mary Burke:

I wasn't dealing with the compliance statement issued, directly, I have to say. At the time, there was a central unit dealing with it. My recollection is that it was brought in in the IFSRA Act - and I can't remember what the full title is - modelled on proposals from the company law review group. There were less onerous provisions, I think, ultimately imposed in company law. Those provisions in company law allowed it for ... allowed for a sort of a comply and explain mechanism. They had materiality thresholds. It was very much in terms of were the directors satisfied that they had procedures and processes. It was by no means an absolute statement that you were in compliance with everything-----