Mr. Gary Tobin:

As the Deputy said, that legislation has been on the Statute Book for only a short number of months and so we have not done any specific analysis of the implications of it. One of the likely implications of that legislation is that fewer buyers exist for portfolios of loans. A potential buyer now needs to be a regulated entity and some potential buyers will not want to go through that process. It may well have had an impact in terms of the price that some portfolio loan sales are attracting. I think that is a likely result of Deputy Michael McGrath's legislation. As it has only been in operation for a short time, it is too early to determine its full impact. All we can do is tell the committee what we think will happen. We are trying to be as open and helpful as we can with the committee. I am sorry if what I am saying is not what the Deputy wants to hear.