Alice-Mary Higgins (Independent)

Going into the process around the approval of the approval, Mr. Cross mentioned the prospectus regulation. According to Article 28 of the prospectus regulation, subject to various things, the competent authority may transfer. It is not an obligation. Going to the Central Bank's own guidance on the prospectus regulatory framework, and I am reading from the bank's guidance:

The Central Bank may accept or reject, in its sole and absolute discretion, any such request for transfer received. Factors taken into account in considering a transfer request may include [and the bank lists them in its letter to us] the domicile of the issuer, the country where the issuer’s securities are admitted to trading and the location of any offer proposed by the issuer. This is not an exhaustive list and each transfer request is considered by the Central Bank on a case-by-case basis.

Is it not the case that the Central Bank has absolute discretion and that, on a case-by-case basis, the bank can look to considering factors beyond the three factors it indicated in its written correspondence, because that is not an exhaustive list?