Ms Ann Nolan:

That section within our Department has been in contact with many of the purchasers of loans and has explained what our policy was, which was to help develop loans, particularly SME loans, to ensure they are worked out in a way that protects jobs and the economy. We do not have powers to force people to do things. It is private property. If somebody owns the loan, he or she owns the loan, and the terms and conditions were set down between the two parties when it was set up, but if there is a particular issue that the Chairman is aware of that he wants to give me information about, I would certainly be willing to talk to the relevant parties to see if there is anything we can do. The reality is commercial loans are dealt with under commercial law and we would be, at best, an influencer on that, and even if we were to change the law, it could be difficult to change it for contracts that have been set up at earlier dates.