Mr. John McCarthy:

That is one way of describing it. The Deputy said he previously had the view that the number was much smaller than over 500. In fact, 90% of the approved housing body stock that is registered with the regulator is in the hands of 50 AHBs. There are over 500, but we will go through a process before the regulatory system kicks in to identify the ones that are no longer active and remove them from the list. The vast bulk of the AHB stock is concentrated in a much smaller number of AHBs.