Alice-Mary Higgins (Independent)

The Central Bank chose to give that factor precedence in its process. That is, as Mr. Makhlouf says, at the Central Bank's discretion. It is what it has chosen.

I will go to the reports recommendations 9 and 10 and the very wide concerns Mr. Makhlouf is hearing from us. This does not cut across anything about the particular. Recommendation No. 9 was:

The Joint Committee recommends that the Central Bank of Ireland reviews its process for assessment of a prospectus and ensures that due diligence is discharged by the Central Bank including appropriate consideration of national and international law.

From our perspective as a committee, it seems that the process, as Mr. Makhlouf outlined it, does not seem to give appropriate weighting to certain aspects of international law. The committee asked if there would be a review in general, not solely in this specific instance, of the bank’s processes.

Mr. Makhlouf answered the question on seeking legal advice. Has the Central Bank examined that process? Is it in the process of a review in relation to these matters?