Mr. Brendan McDonagh:

Section 172 was provided for in a highly-charged environment back in 2009 when the economy was going south and it was inserted to ensure we could not sell assets back to defaulting debtors. Other banks do not have that restriction but we worked our best with it. It causes difficulties from time to time but that is the law. We have to live with it and we have to be upfront with debtors and say no matter what bid they can make on the asset, if they are in default, we cannot sell it back to them.