Professor Philip Lane:

Nine lenders made submissions for phase two in December 2016. It was not September 2016 but was still within 2016. With the deadline of the end of September 2017, that allowed for all banks to make submissions. In that process, there was much communication back and forth in developing the expectations of the redress and compensation schemes and who should be included. Nine submitted the phase two reports but that is not the final answer because if we say that we do not agree, then it goes back and forth.