Dr. Graham Love:

Reputationally, it is important for an institution and the HEA not to find itself in this space. We are a little ahead of ourselves, but if the final conclusion is that it was incorrect and should, for example, be deducted from the next grant, that, in itself, would be an important signal to send and sanction. I add that, as part of the funding model review, one of the implementation measures is a penalty system which is being worked through this year with the implementation group. It is generally concerned with what are regarded as serious and material breaches, but we will come back on that issue.