Mr. Billy Hannigan:

Our observation is that perhaps there could be modifications to Deputy O'Dea's Bill to deal with some of the concerns published in the briefing paper. However, the absolute principle underpinning the Deputy's Bill is welcomed by congress because it is to provide protection to people in defined benefit schemes. To be honest, in terms of the mechanics as to whether a more detailed item of legislation or protections over a more detailed timeframe should be introduced, the principle that we would wish to see agreed is that the protections need to be put in place.