Mr. Pat Houlihan:

Before the Vice-Chairman wraps up proceedings, can I utter an apologia and a corrigendum all at the one time? In answering Senator Cullinane, I unwittingly made a very important error and I would like to have the record changed to reflect that. He asked what presence in the member state one of these SUPs might have. The registered office might be in Ireland but the central administration or principal place of business would have to be within the EU, although possibly here. I intimated in Ireland and I am sorry because I read my notes incorrectly. That is an important clarification and I regret it.