Michael Noonan (Limerick City, Fine Gael)
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Mr. Regling is the director of the ESM. One starts off by having an informal discussion with him and the regulation says that it will be assessed on a case-by-case basis. Therefore, one would ask what way we proceed here. No one has ever done this before. It is only coming into effect. They said they would establish the procedures and rules on a case-by-case basis and it requires unanimity to go through.