Mr. Brian Kealy:

The Minister indicated that if there had been intervention earlier, people would still have lost money. That is true, but it would have been far less because PTC was ramping up and it might have been different people. If there had been an intervention six months earlier, we would have lost much less money. There were clearly concerns. There was an article in The Examineraround the time PTC went into examinership by an English person who had contacted the IAA in September 2011 to express major concerns about the financial position of PTC, but the IAA basically stated it had conducted a review and that there were no issues.