Mr. Brian McHugh:

Our proposal is that there is a structure in place there, and there is precedent in place in terms of other sectors. That is a step that would be reasonable to take in finding solutions to potential problems. I believe that the natural step of a regulator expanding its remit to deal with issues, compared with this legislation which would be unique in Europe and which raises legal issues, is much more proportionate and reasonable to try to solve the problems that may well exist.