Mr. Frank Daly:

Let me comment on the Act. I have been around many Acts in my time. One of the great strengths of the NAMA Act is the focus it gave to the board and the organisation. There are all sorts of other solutions talked about from time to time and it is said that perhaps we should have done other things with the loans, but the fact that NAMA was set up and had a very focused remit, reflected throughout the Act, has comprised much of the reason we are where we are today, with a successful outcome, rather than where we could have been. I know that is based on hindsight but-----