Mr. Seamus McCarthy:

The standard practice in public sector bodies is called a "knock for knock". So if someone transfers in to you, all of their service effectively comes with them. If somebody transfers out, all of their service goes with them. For a regulator, where it is effectively charging the national lottery fund for the costs of operating the regulator, an overhanging liability is a difficulty. I think it is trying to resolve that, as to who is going to pay for the prior-accumulated pension liability.