Mr. Seamus McCarthy:

I do not think it is expressed in quite that way - I am talking from memory - but I think the term is that they are required to achieve the best financial return for the State that is possible, taking account of other objectives. One way it can be benchmarked is if they pay €34 billion and their costs are €4 billion over ten years and they make €39 billion then there is a surplus and that is a financial return. The question is whether it is the best financial return. It is left to NAMA and for this committee in debate with NAMA, to set the objectives and to set the framework and for the committee to decide whether it is satisfied that the way they are measuring the financial return is the best financial return for the State, not for NAMA itself. It is quite a complex process and the committee has had this debate with them.