Michael McGrath (Cork South Central, Fianna Fail) | Oireachtas source

Okay. Can I take you to again, your own booklet, Vol. 1, page 63, and this relates to an approach by the Libyan Investment Authority, no less, to the NTMA in November 2010 and they were proposing to make an investment in Bank of Ireland - proposing to take a 24% stake in terms of ordinary shares from the pension reserve fund and to invest €1 billion of the pension reserve fund shares in preference shares. Can you explain the background to this? What was the nature of this approach?