Mr. Michael Walsh:

But, you know, I think ... sorry, just maybe to put it in context, there is a danger always, in particular to that one item, that people kind of misunderstand. What the society had actually being doing was requiring that the board actually take every single decision.

When I say, take every single decision ... probably a slight exaggeration, but, nonetheless, there was a view around at that point in time that actually that wasn't appropriate and that really what boards should be doing is being notified. So, it is not that they are not aware of what is actually happening but that they don't actually make the decisions. Now at that point in time I think if you looked at most other institutions, boards were actually being notified above certain thresholds but boards weren't actually taking decisions and that was the view that was taken as being appropriate.