Mr. Michael Farrell:

If I correctly interpreted some comments that were made at the outset about governance and governing bodies, I would not like it sitting on the record that anything done in respect of the IMI and its acquisition was outside of the Universities Act or the powers of UCC's governing body. The decisions taken by the governing body were completely in line with the legislation. It conducted extensive due diligence, set extremely stringent conditions for the acquisition of the IMI and risk managed the process throughout the period.