Mr. Seamus McCarthy:

Yes, absolutely, because there is an obligation on the institute to present their financial statements on a going concern basis so long as it is satisfied that it continues to be a going concern. It has done so. What I am doing here is drawing attention to a situation that has persisted for five years now. It has an accumulated deficit and it is not the only institute of technology in that situation. There are five or six of them in a similar situation. They are required by the HEA to present a plan that will allow them to move into a surplus situation, to stabilise and ensure that they are going concerns into the future.