Mr. Paul O'Toole:

The first point to make is that the initial expectation is that each institution will have a clear policy in place for how these are managed. I go back to the conversation we had earlier. There is a recognition that conflicts will occur and the management of those requires the maximum amount of transparency. I go back to the point that one does not stray into the shareholding of a private individual but one must ensure that whatever that individual does is in accordance with policy and that if there are conflicts arising, they are managed. The thrust of the revised protocol will be about how potential conflicts are managed, such as spin outs and revenue share.