Ms Oonagh McPhillips:

That was not the type of investment included. We do not allow investment in property under the scheme. There is a list of the areas the investment has to be in, including an enterprise that creates jobs or an endowment to a voluntary body or a sporting body. This is a different thing.

With regard to the risks identified by various external international bodies, the OECD concentrated on the tax issue, tax evasion and the scope for anti-money laundering. The EU's focus was very much on access to the Schengen area and the security concerns.