Mr. Tom Considine:

No, the legislation that established the regulator set out in some detail what the regulator was required to do. For example, section 33P required the regulator to draw up a strategy statement. And that legislation was more specific. It also specified what was to be in it. So the function of the Department was to review the strategy statement to see did it actually comply with the Act, did it have in it what it was supposed to have.

Then that was submitted to the Minister and then the Minister laid it before both Houses of the Oireachtas.