Mr. Alan Merriman:

That is correct but, again, just so there are no misunderstandings, the board approval is the ultimate approval. It is the end of a long process of working through a loan application. It is the ultimate safeguard. It is beyond a certain €10 million level. We are not going to allow the executive to give this loan out without a further check coming from the board of non-executive directors as an additional precaution. And in doing that, the society understands if it is going to compete in this market, it needs to be able to provide the type of service that is expected. So therefore, we need to give a 24-hour period. Those members who sat on that committee fully understood that requirement and the need for them to be able to be available to give the consideration that would be needed within that timeframe and they would have got very detailed documents to help them support their agreeing or not agreeing to make those individual loans.