Mr. Gerard McConville:

Yes. With regard to a manager being a director, we do not see that as a runner at all. There should be a clear division between the executive and governance functions.

On the issue of there being a backlash, I will confine my response to the flexi-account. We see it as ironic that credit unions are now more heavily regulated, yet there are unregulated companies such as department stores that are allowed to maintain running accounts or flexi-accounts whereby people can run up a large bill. There is no regulation and we would see the proper place for this being within a regulated entity.