Mr. Frank Daly:

The main responsibility for this rests with the board. We are trying to juggle a lot of things here. We are trying to juggle the desire to have a reasonable contract for people with the fact that we are finding it very difficult to hold on to people in the first place. We are finding it very difficult to recruit people. Therefore, there has to be a balance in respect of the conditions attached to staff contracts. As Mr. McDonagh said, the board is very conscious of this matter. We would be satisfied with the situation that obtains now.

Much conversation takes place on this matter. It is almost as if there were evidence that people had abused their positions. That is not the case. Mr. McDonagh outlined earlier the consequences of abuse, under the Official Secrets Act, the NTMA legislation and section 202 of the NAMA legislation. One must look at this in a balanced way. People move from organisations such as NAMA and move within the financial and property sectors. They are being poached from NAMA, I believe, for their expertise and skills, for which we hired them in the first place. I do not believe they are being poached for any so-called insider knowledge they might have or any use they might make of information relating to debtors that they gained in NAMA.