Mr. Pat Farrell:

Yes. Well, just briefly, the compliance statements were being brought forward as a specific provision specifically for banks and there was already an existing compliance statement capability in the Companies Act and our view at the time, which I think was a legitimate view, was that there was potential for duplication. I think where the thing ... I think where it finished up was and I think there is correspondence to this effect and I think it may have been referred to as well in the evidence that's been given thus far by some of the Finance people, was that the Department decided not to proceed with the compliance statements specifically to financial institutions because it was forming the view that there was adequate reliance could be placed on the provision of the compliance statement of the Companies Act and it also directly and pointedly, I think, communicated at the time to the Financial Regulator, that they did have this power, they did have this provision and they could rely on it if they required a compliance statement. Let the record show that, as again, it's open to correction, but as from my limited investigation of it, I don't think that particular provision, i.e., seeking a compliance statement from a financial institution under the provisions that were there, was ever activated during the period.