Mr. Frank Daly:

Generally, the notes would record what A, B and C said without commenting on whether they were contrarian or otherwise. Regarding the specific matter that the Deputy mentioned, namely, the change in strategy to opt for a loan sale rather than the approach that had been agreed previously, it would have been discussed. There was a challenging of why we were going that way, but there were no contrarian views to the effect that we should not have gone down that road when the opportunity arose. There would have been a questioning of the figures, pros and cons outlined in the paper, with people perhaps zoning in on particular aspects, but there was no contrarian view that needed to be reflected in the minutes because it was a unanimous decision of the board.

Although it rarely occurs, a specific provision allows for a board member to have a contrary view or particular point recorded in the minutes against his or her name. We encourage that.