Mr. Ed Sibley:

There has been a high degree of engagement between the Central Bank and the Department on this matter, in terms of what we thought would be appropriate legislation and how we would deal with this issue. The credit servicing firms are being authorised and are expected to operate as authorised and regulated entities. Both in terms of the letter of the law, the culture and their responsibility to their customers we would expect them to behave responsibly and to ensure that the instructions they got from the loan owner were appropriate for them to deliver.