Mr. Arthur Cooper:

I will start and Mr. Flanagan will no doubt be able to answer and add to some of the things that I say. Going back to Deputy Cahill's initial question about the percentage that we receive from the PMU, the international standard rate of 3% is what we receive. That is basically what the figure is anywhere around the world when dealing with major totalisators. Of that €750,000 turnover achieved in France, we receive 3% in commissions on that.

With harness racing, there is probably more a propensity towards having a totalisator than towards fixed odds bookmakers. That said, in Australia there is a move away from the totalisator towards more bookmakers. We look towards bookmakers as being an opportunity. I am in negotiations with a number of operators globally from a trotting perspective or from a harness racing perspective. We are trying to come up with appropriate arrangements. The longer-term aim with these deals being put in place at present is to incorporate Ireland in that. That will be right across Europe. When it comes to the PMU, which is the big one in the world, 3% is the turnover there.

The governance side of things was mentioned. A fair portion of what we are looking towards with regards to seed funding - we will come on to a figure on that in a moment - is on enhancing the whole governance side. I will start on the sub-committees, which I think everyone has brought up thus far. One key thing we need to do concerns the internal side of things. We now have in place five sub-committees. We have breeding, racecourse, integration, stakeholders and welfare and integrity sub-committees. Three of those sub-committees will have open floor membership. Members and stakeholders can apply to be part of those committees. That includes the racecourse along with the stakeholders sub-committees. They can apply to be on there and we want to have representation from our stakeholders on those committees.

All committees will have a minimum of two IHRA board members. The chairmen of each of those sub-committees will be an IHRA board member, so it will funnel up to the main IHRA board. We have brought in independent directors to the audit and finance and risk sub-committee and they primarily make up that particular committee along with two members of the IHRA board. That includes audit, finance and risk, so we are enhancing ourselves in that area.

We consider the welfare and integrity committee to be probably equal with the audit and finance committee as the most important of the committees. With that particular committee, we have brought in a number of experts from around Ireland. We have veterinary surgeons, we have-----