Mr. Con Horan:

Yes. I think just to get again the sequencing right. I think, again, I provided some documents to the inquiry. In advance, in 2004, I was making the case that we were structuring the organisation in the wrong way in that we hadn't set up dedicated inspection units to pursue administrative sanctions. I think that's a matter of record and I was very much in favour of setting up dedicated units at that time. And in preparation for moving ahead I had proposed corporate governance requirements in May 2005 to be imposed as a requirement on the licence of banks to enable us to take administrative sanctions, actions, against the banks, and some of the more difficult cases I was dealing with.