Mr. Seamus McCarthy:

The Turf Club is what is described as a related party to the IHRB. The IHRB is a statutory body.

Obviously, the directors are nominated by the Turf Club and by the Irish National Hunt Steeplechase Committee. The building the IHRB occupies is owned by the Turf Club and rented by the IHRB, so there are a number of transactions going either way. The difficulty I had with the amount that was owed by the Turf Club to the IHRB was that there is no documentary evidence as to what that figure is for.