Mr. Aidan Horan:

The vast majority of these recommendations are not about rule change at all, as I said in my opening statement. This is about how it does its business as an organisation, as an entity. If the better governance arrangements are what we are trying to embed, the rule changes are about putting in place structures to allow those arrangements to breathe and to happen. It is interesting that, at the start, people were saying this was all about rule change but the vast majority is cultural and behavioural change, as distinct from rule change. The appendix I sent to the committee outlines how we would put an infrastructure in place that would allow better governance to flourish within the organisation, and that is why it is there, and nothing more.