Mr. Gerry Fahy:

This is an accumulated surplus over the period of the existence of the office. Sometimes it comes in lumps. The committee may recall that the previous spectrum auction generated over €800 million in spectrum fees, some upfront and some annually. The annual spectrum fees generate a surplus on an yearly basis. Typically, in an average year, ComReg might generate a surplus of €50 million based on the surplus over the levy. We impose a levy on the industry and we collect spectrum fees for the various uses of spectrum. Every year, that surplus is available to be returned to the Exchequer. The use of the surplus is a matter for the Exchequer.