Mr. Cormac Ryan:

That will be the main decisions on the portfolio and reporting back on rearrangements. Those decisions will sit squarely with Pepper. If we do a review, for example, and if somebody's circumstances have disimproved and we need to help that customer, that information will be reported back to the customer. That will sit with Pepper. Another important role and delegated authority is the setting of interest rates, which will sit with Pepper. That will be discussed and we will hear representations. The prospectus is very clear, however, that it is in a consultative capacity only. The decision making remains with Pepper.