Mr. Kevin Johnson:

No. We would agree with the spirit and principle behind the idea of the fixed terms, which is to ensure a renewal. To be clear, we do not see this as an attempt to in any way undermine the critical role of volunteers in the credit union sector. It is volunteers, aided and supported by management and staff, who built the credit union sector in Ireland to its present strength. What we are trying to do is ensure that it continues to grow and to be strong. There are many roles for the volunteers within the sector. It does not necessarily have to be at a director level. One development we would like to see come out of this is more preparatory work where the nomination committee would work on succession plans and where other volunteers would be developed so that when members elect them as directors they are effective from the outset.