David Cullinane (Waterford, Sinn Fein) | Oireachtas source

I am sorry, but that is Professor Donnelly's experience. He cannot say that with any certainty. He is saying that is possibly how it happened. We might get a note from the institute which details who made the decision to reduce the equity from 15% to 12%, which it seems was the financial controller, who then made the decision to reduce it further to 10.8%. Did that go to the board?