Ms Susanna Lyons:

We have oversight of quite a substantial number. There are 179 tier-1 organisations and 50 tier-2 organisations regarding which we have visibility. I mentioned earlier that we have a premise of governance and financial viability. One of the key tasks of the regulation office is to ascertain whether organisations are operating with a surplus or deficit, whether they are operating with a deficit for more than two or three years in a row, what their liquidity looks like, and whether they are generating positive cashflows. When we talk to the organisations, we indicate they will not make it in the long term if they are not able to pay in the short term. We have come across organisations that have struggled in regard to financial viability for reasons that the Deputy identified. Maybe they did not collect rents in the most effective or efficient way, or maybe they had a percentage of voids or had to pay a large maintenance bill. When we are speaking to the tier-1 organisations, we speak in that language and ask them to ascertain whether they are sustainable, where the risks lie, how the risks are managed and how their financials are managed. Regulation is not just about compliance; it is also about education and putting in place some management tools to help the organisations reach their objectives.