Mr. Robert Mulhall:

The contract stipulates the then prevailing rate and that is the basis on which the decision was made. To respond to the earlier point, that is the basis for how much the bank was maybe incorrect in its decision in the past, whereby it was interpreting the then prevailing rate in these instances as the tracker product had been withdrawn, therefore there was no such offer to be made to customers. That applied to customers who had and did not have trackers and we have now rectified that situation.

For clarity, we have returned people who previously held a tracker to their historic margin. That is 640 customers and that was completed in the latter half of 2016 and early 2017.