Ms Lucia Crimin:

If it is okay with the Deputy and the Chair, I will group together the matters I am able to answer on and then pass to Ms Loughlin to deal with the others. On the Deputy's question about the CSO, he said that he was impatient. We are also impatient. What I can say is that we are very happy with the process and the working relationship with the CSO. We are very confident in the analysis that has been ongoing over the last year. It goes without saying that it is very important that this analysis is conducted very carefully to be fair to the market, the public, the CSO and the RTB. We are going to have to wait for the report to see the detailed results of the analysis. I can explain what it will tell us, however. It will tell us that there are numerous explanations for the difference between the two data sets. There is another key issue. If I recall correctly, it came up at the last committee meeting we attended, back in October. Not everything that looks like a tenancy is a tenancy registered with the RTB. That has all surfaced through the analysis. As I mentioned and as the Deputy alluded to, the census data set and the RTB register are two completely different data sets collected at different points in time using different mechanisms. That is what the analysis will tell us. What it will not give us is a list of potentially unregistered properties. That was understood from the outset.

With regard to where we are and what we are going to do next, we are also waiting for the final report. We understand it is imminent and will be released towards the back end of this month. In the meantime, we are continuing to operate our current compliance and enforcement processes in respect of failures to register. We see such failures as very important because they ultimately undermine the integrity of the register and, as a regulator, that integrity is paramount for us. It is also important to note that late fees are automatically being imposed on registrations. Since March of this year, these fees have been reintroduced. They were suspended for a period of time because of the issues we were having with the system.