Mr. Paul Joyce:

I do not believe the strategy is decided within the confines of this country. There is a requirement that the owner of the loans have a presence here but often the companies are set up specifically, as Deputy Doherty mentioned, with the same directors who may be directors of 360 other companies. There is an official front and the company often instructs the credit servicing firm. However, in terms of who decides what happens to the overall portfolio, where it goes and what action is taken, our view is that those decisions are made far from this city and country.