Mr. Seamus McCarthy:

The €4 million expenditure of the Charities Regulator concerns expenses of the regulator in the carrying out of its functions. The charities funds are held in trust for charities or for charitable purposes. For example, where a charity is folding, there may be surplus funds which can be held for distribution for similar charitable purposes. The regulator provides an oversight for this. It is a small fund and is in a wind-down situation. In the future, the charities fund account will be empty.