Mr. Brendan McDonagh:

With regard to planning, we always seek to extend the planning permission because if we let it expire then, effectively, the value of that asset goes back to agricultural value as opposed to the value of planning. Sometimes the issue has been that the planning granted is not commercially viable but that is another story. If it does not cost much to extend the planning we will do it and we will work with the local authority on that basis.

In terms of section 172, if we find that anybody associated with NAMA did something we were not aware of at the time and people tell us or we find out ourselves and believe there is a breach of the law, we are absolutely obliged under the Criminal Justice Act to report it and we do report it.