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

And the initial proposal seemed to be that they were prepared to make an investment of ... in the order of €1.4 billion. €1 billion in preference shares and to pay the market value of 24% of the ordinary shares in Bank of Ireland which were ... was about €400 million. And so Colonel Gaddafi didn't quite almost own a good share in Bank of Ireland, Mr. Corrigan? Not quite.

Can I take you to the shareholder management unit within the NTMA which was announced in February 2010 and was established by order in March 2010? So this was going to be a new banking unit as such within the NTMA. Can you clarify the role which was fulfilled at that time? And then you make reference to in August 2011 that the banking unit of the NTMA was seconded to the Department of Finance. So for a year and a half it remained within the NTMA building, is that the case?