Mr. Ciarán Breen:

Yes. I appeared before the joint committee at the time. My recollection is that I said I was not indifferent about whether there should be voluntary disclosure or mandatory disclosure. I said that if I were asked to choose, I would definitely prefer voluntary disclosure. My worry was - my advices were entirely guided by this - that I did not want it to become a box-ticking exercise by people making disclosures. I believed that a voluntary system would have much greater buy-in and that people would proceed in an atmosphere in which they did not simply feel compelled to disclose. My thinking was that it would result in a better system.