Mr. Colm Forde:

That will all be set out in the omnibus proposals and the directive. There are very clear timelines for the date it must be transposed by and when it comes into effect. As Mr. Verdon and Mr. O'Neill mentioned, there are different phases where the laws become applicable to certain categories of company at an earlier stage than others. That will all be set out in the European legislation. We do not have national discretion on those timelines.