Mr. Michael Walsh:

But, sorry, if we actually start with the key thing, which is, you know, where was the power within the society, what was the delegation, I have always, kind of, grappled with how the misunderstanding took place in the beginning because it almost developed a folklore about it, you know. Everybody seems to have, kind of, page 1 of the minutes, which basically says, you know, "These are the powers delegated". Nobody seems to have been given page 2, which says, "These are the reservation of powers to the board". Now, I don't know why. Obviously, there was a, kind of, probably, kind of, new management without the institutional recollection or history. But the simple reality is ... from all the time I was there, as chairman, there was very clear powers reserved to the board, there were clear authority levels and, from a board point of view, they were there, required and nobody had permission to actually go round them.