Mr. John Hannigan:

The point that was made was the fact that the organisations in the AHB sector are predominantly charities. Almost all of them that are registered both with the regulator and through the ICSH are charities. The asset is managed-owned by that organisation. It is not owned by anybody else. It is funded in different ways. Some of it is funded through the State, some of it is funded through the Housing Finance Agency, which we should bear in mind is a State body, and some of it is funded through banks. There are different types of funding institutions that are similar to banks. Pension funds are similar, there are private equity firms that operate across the world, and there are other international banks such as Nordbank and so on.