Mr. Gerard Murphy:

The Senator is right. There are different schemes which were developed over the years from 1992 right up to 2012. Over time, different schemes developed because one found as time went on that farmers were looking for variations to the original. The early schemes were very much index linked and there was a guaranteed payment all the way through together with the premia. As that went on, we found that different schemes were more attractive to people. People looked for some share of it up front in terms of annuity, but were prepared to have a value at the end. In most of those contracts, somewhere between 55% and 60% of the clearfell value goes to the partner.