Mr. Hamilton Goulding:

Therefore, as with so many companies - I am sure the Deputy can name lots of them about which I do not know - a payment had to be made to prop up the fund. The actuaries involved in this pension fund gave us advice that in their opinion by 2017 the fund would be back in full compliance with the funding requirement and that, therefore, a loan was required to cover the deficit. The loan was given in the full expectation, on the advice of the actuaries, that it would be fully returnable in 2016 or 2017 - I believe it was 2017. It was simply to cover a very common problem. As far as I understand it, it certainly did not relate to one person.