Mr. Fergal O'Leary:

To be very brief, the history of this is that in July 2023 we launched an investigation, which reported back to us in October of last year. The issue was how we could get the trust to be compliant as quickly as possible. That led us to appointing our monitoring experts in February of this year. They then conducted a scoping report, which looked at the trust's compliance versus our standards at that point in time, and it was still not compliant. For that reason, in July we gave it a series of nine high-priority actions that it was to complete between July and today. That process will finish in the next couple of days and our actions following that will be based on the evidence that is provided by the trust.

To underpin longer term efforts by the trust working towards compliance, we issued a statutory direction in July. As far as we are concerned, the trust still is not compliant. It has very serious governance issues. Hopefully, the publication of the annual financial statements in the next couple of weeks will start to allay those, but from our regulatory standards, it is our view that the trust is still not compliant and we are in a number of processes with it to get it to be compliant as fast as possible.