Mr. Edmund Honohan:

It is in relation to people saying "I am the registered owner, do not ask me any more, and if you press me on that I will not be able to produce any documents to prove it". I do not know where that came from in the section. I would love to look at the Oireachtas debates that took place in 1963. The point is that the Government could remove those words now. That would eliminate the confusion in the courts. It would not affect the rights of the owners of the mortgages because they would still be entitled to come to court to sue, only not the loan originator would be suing. They would come in themselves as special purpose vehicles and say "We are the owner of the burden and we are suing". The Americans do not want to know, however, and the Irish loan vulture funds do not want to know either. They want to leave it in the hands of the person who is named on the register, but those words could be taken out without damaging anybody's property rights. It is a fascinating piece of legislative history. I leave it with the committee.