Mr. Eoin Dorgan:

This reflects the change in the role. Before, it was the NTMA advisory board whereas now it is a full board with increased powers and responsibilities. It was done in consultation with the Department of Public Expenditure and Reform. There was a much greater responsibility on the board members after the National Treasury Management Agency (Amendment) Act 2014 which gave them much more clearly defined roles and improved the corporate structure of the NTMA. It was a reflection of the change in their responsibilities whereas it would have been less when it was the NTMA advisory board.