Ms Ann Nolan:

First of all, I would like to welcome the fact that all the bidders have said they will voluntarily abide by the code. As regards possible future legislation, last week in the Dáil the Minister said he hoped they would voluntarily abide by the code. However, we are in discussions with the Central Bank and the Attorney General on whether we can extend the legislation. It is quite complex because a lot of different legal contracts were entered into between different people at different times.

The Minister is absolutely determined that the code of conduct will apply. We will certainly be watching the space. If the bidders who eventually purchase them do not abide by what they have committed to do, the Minister has said he will legislate as necessary.