Mr. Simon Carswell:

My understanding regarding that particular information comes from a document that was released by the Department of Finance to one of the Oireachtas committees. I cannot remember which one. It explored the need to have something in our back pocket in case something happens.

That was all part of the crisis management preparations that went on. There was a similar piece of legislation, but much broader, introduced in the UK called the Banking (Special Provisions) Act 2008, which was effectively providing a regulator a toolkit to fix a broken bank or to take it out or decommission it. It was very much of the time that governments were looking at that, in that the crisis was so bad and we had seen five or six months previously what had happened with Northern Rock, so we needed to be prepared. That is where that came from.