Dr. Alan Wall:

No. To be clear, I was trying to get to trusting but verifying, which is a standard approach in governance. One trusts but one verifies. I will tease out a couple of these issues. I know we do not have much time but I ask the Deputy to bear with me. In my 20 months here, we have been involved in tightening up the governance arrangements as much as possible without legislation. The oversight agreement is much more specific about what bodies sign off on when they get money from us. The annual governance statements are much more specific and we require sign-off on very specific issues. As the Deputy will be aware, the issues she has raised, such as the issues of spin-out companies and intellectual property, have all been subject to rolling reviews and changes have been made that have affected the annual governance statements. However, there can be frustration because, even if one sees red flags such as the Chair has mentioned, our capacity to act is very limited. We have seen this in respect of other investigations we were required to carry out and which we could not. I do not know enough yet because I have to ask direct questions but I am not happy. The Deputy is right about the sector. We need to move towards legislation so that we can be less toothless. "Toothless" is not an unfair term to use. The committee will have heard the frustration of other CEOs before me with regard to what we do not have capacity to do. We are in very close dialogue with our parent Department about our own resources. Our internal systems are not great for gathering information. There are things for us to learn from this. We need to watch that. I do not want to take up the Deputy's time but, overall, we are not happy. We want to see improvement. We need a strengthened legislative basis.