Mr. Rónán Hession:

That is one of the issues we will have to examine. It depends on how one does it. The directive sets a minimum standard in terms of what we have to do and there are different design features within that requirement, for example, there is option A or option B. There are lots of other features internationally in controlled foreign company rules that we could import if they made sense for Ireland. We will have to do that analysis next year ahead of the legislation being brought forward.