Mr. Charlie Phelan:

On the point concerning the payment of capital gains tax, it certainly paid at the disposal point. Whatever tax is due is based on the disposal price.

On Deputy Neville's point about the style of communication, as I said earlier, it is not easy to tell a taxpayer that he or she has an issue. I agree with the Deputy that the style was pretty strong in its language but we believe it was an invitation to engage with a code of practice. Perhaps the language dealing with an non-professional is a little different but if one brought that letter to one's accountant, it would be well understood by him and what engagement with the code of practice involved. A code of practice is a set of rules but one would not include all those rules in a letter. I take the Deputy's point about the style of communication and we will certainly improve on what we are going to say to these people, particularly bearing in mind the Christmas period. We will put as much comfort as we can in what we will say. We are aware of the issues in farming and concerned about the issues facing farmers. We will fix that and I thank the Deputy for pointing that out.

The example I gave of 100,000 shares was a simple one. The examples I gave were for illustrative purposes. We are relying on the rules of the co-op, and they are contained in a public document, which I pulled off the company's website. It states 4,546.09 litres, which is 1,000 gallons. That is where we took that figure from. I accept that it refers to the quota.