Mr. David Hall:

An eligible sale would be defined as one going to one of the 500 approved housing bodies. Between them, they have a stock of approximately 50,000 social houses. The bodies range from women's refuges to large bodies such as Clúid Housing and Respond!, which have 6,000 units and 4,000 units respectively. These are large organisations but they are heavily regulated from a governance perspective. They are registered charities and they are regulated by a housing regulator under the Housing Agency. The differential is there, so we can make a clear distinction between a vulture fund and an approved housing body.